AMI Asset Management Corp Trims Holdings in Varonis Systems, Inc. $VRNS

Key Points

• AMI Asset Management Corp has reduced its stake in Varonis Systems, Inc. by 41.0% during the second quarter, now holding 16,315 shares valued at $828,000.
• Recent insider trading shows CFO Guy Melamed sold 51,889 shares at around $55.10 each, while Director Fred Van Den Bosch sold 3,000 shares, contributing to a total of 113,386 shares sold by insiders over the past three months.
• Wall Street analysts have raised their target prices for Varonis Systems, with an average target price of $63.41 and a consensus rating of "Moderate Buy".

AMI Asset Management Corp decreased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 41.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,315 shares of the technology company's stock after selling 11,353 shares during the quarter. AMI Asset Management Corp's holdings in Varonis Systems were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VRNS. Quarry LP lifted its position in Varonis Systems by 31.8% during the first quarter. Quarry LP now owns 1,082 shares of the technology company's stock worth $44,000 after buying an additional 261 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Varonis Systems during the first quarter worth approximately $69,000. NBC Securities Inc. lifted its position in Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after buying an additional 2,004 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Varonis Systems by 45.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the technology company's stock valued at $182,000 after purchasing an additional 1,401 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Varonis Systems in the first quarter valued at $200,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Insider Buying and Selling at Varonis Systems

In related news, CFO Guy Melamed sold 51,889 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares of the company's stock, valued at $25,930,170.20. The trade was a 9.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Den Bosch Fred Van sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $55.08, for a total value of $165,240.00. Following the transaction, 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 have 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.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company upgraded Varonis Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $51.00 to $70.00 in a research report on Monday, August 11th. UBS Group lifted their target price on Varonis Systems from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Monday. Barclays lifted their target price on Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citigroup lifted their target price on Varonis Systems from $51.00 to $58.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Finally, Wedbush restated an "outperform" rating and issued a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, September 3rd. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.41.

Varonis Systems Price Performance

VRNS stock opened at $57.82 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $6.48 billion, a PE ratio of -62.85 and a beta of 0.64. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The business's fifty day moving average price is $57.01 and its 200 day moving average price is $49.73.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 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.

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