50,700 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Purchased by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 50,700 shares of the technology company’s stock, valued at approximately $2,865,000. Varonis Systems makes up about 0.2% of BlueCrest Capital Management Ltd’s portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRNS. Diversified Trust Co purchased a new position in shares of Varonis Systems during the 2nd quarter worth approximately $575,000. Swedbank AB purchased a new position in Varonis Systems during the first quarter worth $3,344,000. Harbor Capital Advisors Inc. raised its holdings in shares of Varonis Systems by 562.0% in the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock worth $928,000 after acquiring an additional 16,416 shares during the last quarter. Lisanti Capital Growth LLC lifted its position in shares of Varonis Systems by 17.0% in the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after acquiring an additional 10,820 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Varonis Systems by 226.9% in the third quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 14,295 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Piper Sandler upped their price objective on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. UBS Group raised their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $49.96 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems, Inc. has a 1-year low of $40.48 and a 1-year high of $60.58. The firm has a market capitalization of $5.62 billion, a P/E ratio of -66.61 and a beta of 0.82. The business’s 50-day simple moving average is $54.52 and its 200-day simple moving average is $50.98.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. During the same period in the previous year, the company posted ($0.22) earnings per share. Varonis Systems’s revenue was up 21.1% compared to the same quarter last year. Equities analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Varonis Systems Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.