Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Pier Capital LLC

Pier Capital LLC cut its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,482 shares of the technology company’s stock after selling 15,171 shares during the quarter. Pier Capital LLC’s holdings in Varonis Systems were worth $7,506,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after acquiring an additional 155,040 shares during the last quarter. First Trust Advisors LP raised its stake in Varonis Systems by 7.9% in the 4th quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock valued at $200,436,000 after purchasing an additional 325,347 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Varonis Systems by 1.9% in the 4th quarter. Clearbridge Investments LLC now owns 3,722,692 shares of the technology company’s stock valued at $168,563,000 after purchasing an additional 70,572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Varonis Systems by 126.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after purchasing an additional 1,070,821 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after purchasing an additional 133,109 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Trading Up 1.3 %

NASDAQ VRNS opened at $51.43 on Wednesday. Varonis Systems, Inc. has a 12 month low of $29.47 and a 12 month high of $58.32. The stock has a market capitalization of $5.77 billion, a P/E ratio of -54.71 and a beta of 0.81. The firm’s 50-day moving average is $52.08 and its two-hundred day moving average is $47.94. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.35) EPS. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total value of $3,828,000.00. Following the sale, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Barclays raised their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Wedbush reissued an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.33.

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.