Legal & General Group Plc Sells 3,311 Shares of Varonis Systems, Inc. $VRNS

Legal & General Group Plc trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 708,801 shares of the technology company’s stock after selling 3,311 shares during the quarter. Legal & General Group Plc’s holdings in Varonis Systems were worth $35,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Yorktown Management & Research Co Inc purchased a new position in shares of Varonis Systems in the 2nd quarter worth approximately $302,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Varonis Systems in the second quarter worth $418,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Varonis Systems by 3.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 293,083 shares of the technology company’s stock worth $14,874,000 after buying an additional 10,100 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Varonis Systems by 48.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,562 shares of the technology company’s stock worth $638,000 after buying an additional 4,097 shares during the period. Finally, Advantage Alpha Capital Partners LP increased its position in Varonis Systems by 69.3% during the first quarter. Advantage Alpha Capital Partners LP now owns 153,854 shares of the technology company’s stock valued at $6,223,000 after acquiring an additional 62,973 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Insider Activity

In other news, CFO Guy Melamed sold 1,500 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $59.59, for a total transaction of $89,385.00. Following the transaction, the chief financial officer owned 412,105 shares in the company, valued at approximately $24,557,336.95. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

VRNS has been the subject of several analyst reports. Susquehanna lowered their target price on shares of Varonis Systems from $65.00 to $50.00 and set a “positive” rating for the company in a report on Wednesday, October 29th. Baird R W lowered shares of Varonis Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Truist Financial restated a “buy” rating and set a $50.00 target price (down previously from $70.00) on shares of Varonis Systems in a research report on Wednesday, October 29th. Cantor Fitzgerald set a $60.00 target price on Varonis Systems and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Barclays raised their price target on Varonis Systems from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Sixteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.79.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS opened at $32.35 on Thursday. The firm’s 50 day simple moving average is $49.20 and its 200-day simple moving average is $51.34. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. Varonis Systems, Inc. has a one year low of $30.34 and a one year high of $63.90. The firm has a market cap of $3.81 billion, a PE ratio of -31.72 and a beta of 0.62.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 28th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $161.58 million for the quarter, compared to analysts’ expectations of $166.47 million. Varonis Systems had a negative return on equity of 24.97% and a negative net margin of 18.82%.Varonis Systems’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Varonis Systems has set its Q4 2025 guidance at 0.020-0.04 EPS. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

About Varonis Systems

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.