Barclays PLC Purchases 35,274 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Barclays PLC increased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 10.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 389,522 shares of the technology company’s stock after buying an additional 35,274 shares during the period. Barclays PLC’s holdings in Varonis Systems were worth $22,007,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. WCM Investment Management LLC acquired a new position in Varonis Systems in the third quarter valued at approximately $17,419,000. Squarepoint Ops LLC lifted its position in shares of Varonis Systems by 167.9% during the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after acquiring an additional 284,236 shares during the period. Two Sigma Advisers LP boosted its stake in Varonis Systems by 46.7% during the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after acquiring an additional 267,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after purchasing an additional 228,589 shares during the period. Finally, Thematics Asset Management increased its stake in Varonis Systems by 40.2% in the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after purchasing an additional 152,000 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Down 1.8 %

VRNS opened at $47.10 on Friday. Varonis Systems, Inc. has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. The firm has a market capitalization of $5.30 billion, a P/E ratio of -62.80 and a beta of 0.80. The company’s 50-day moving average is $53.11 and its 200 day moving average is $51.36. 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 (NASDAQ:VRNS) last posted its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. Research analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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 approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction dated Tuesday, October 15th. The stock was 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 in the company, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group raised their target price on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson cut their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler boosted their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Barclays lifted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.80.

Varonis Systems Company 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.