Alpine Woods Capital Investors LLC Buys New Position in Varonis Systems, Inc. $VRNS

Key Points

• Alpine Woods Capital Investors LLC has acquired a new stake in Varonis Systems, Inc., purchasing 30,078 shares valued at approximately $1,526,000 during the 2nd quarter.
• Analysts have shown optimism for Varonis Systems, with multiple firms raising their price targets, including UBS Group increasing its target from $65.00 to $70.00.
• The consulting firm's quarterly earnings beat expectations, reporting a 16.7% year-over-year revenue increase, with $152.16 million in revenue and a $0.03 EPS.

Alpine Woods Capital Investors LLC bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,078 shares of the technology company's stock, valued at approximately $1,526,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Brown Advisory Inc. acquired a new position in Varonis Systems in the first quarter valued at approximately $346,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Varonis Systems by 18.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company's stock valued at $352,000 after buying an additional 1,323 shares during the period. Stephens Investment Management Group LLC lifted its stake in Varonis Systems by 14.7% in the first quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock valued at $64,904,000 after buying an additional 205,781 shares during the period. Penserra Capital Management LLC lifted its stake in Varonis Systems by 52.2% in the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after buying an additional 529,182 shares during the period. Finally, Legacy Advisors LLC lifted its stake in Varonis Systems by 164.5% in the first quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company's stock valued at $853,000 after buying an additional 13,115 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VRNS has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a research note on Tuesday, July 22nd. Morgan Stanley boosted their price target on Varonis Systems from $59.00 to $66.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. UBS Group boosted their price target on Varonis Systems from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Barclays boosted their price target on Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company raised Varonis Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $51.00 to $70.00 in a research report on Monday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and an average price target of $63.41.

Insiders Place Their Bets

In related news, CFO Guy Melamed sold 1,500 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $59.59, for a total value of $89,385.00. Following the completion of the sale, the chief financial officer directly owned 412,105 shares of the company's stock, valued at approximately $24,557,336.95. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the sale, the director directly owned 128,666 shares of the company's stock, valued at $7,086,923.28. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,386 shares of company stock valued at $6,429,405 over the last three months. 2.30% of the stock is currently owned by insiders.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $62.42 on Tuesday. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -67.85 and a beta of 0.64. The stock's 50 day moving average is $57.99 and its 200-day moving average is $50.94. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $63.90. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.Varonis Systems's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal 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.

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