Varonis Systems, Inc. $VRNS Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Varonis Systems, Inc. by 71.8% in Q1, owning 499,730 shares valued at approximately $20.2 million.
• Fourteen analysts have rated Varonis Systems with a Buy rating, leading to an average target price of $61.65 for the stock.
• Varonis Systems reported a quarterly revenue of $152.16 million, up 16.7% year-over-year, surpassing analyst expectations by $4.36 million.

AQR Capital Management LLC grew its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 71.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 499,730 shares of the technology company's stock after acquiring an additional 208,891 shares during the quarter. AQR Capital Management LLC owned about 0.45% of Varonis Systems worth $20,214,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quarry LP lifted its stake in shares of Varonis Systems by 31.8% in the 1st quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after purchasing an additional 261 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Varonis Systems in the first quarter valued at 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 valued at $81,000 after buying an additional 2,004 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Varonis Systems during the fourth quarter worth approximately $163,000. Finally, PNC Financial Services Group Inc. grew its stake in Varonis Systems by 45.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the technology company's stock worth $182,000 after buying an additional 1,401 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRNS. Wells Fargo & Company raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $51.00 to $70.00 in a research note on Monday, August 11th. Barclays increased their price target on Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird boosted their price objective on Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. DA Davidson upped their target price on Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wedbush reiterated an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday, September 3rd. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.65.

Insider Buying and Selling

In other news, CFO Guy Melamed sold 51,889 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Den Bosch Fred Van sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,386 shares of company stock worth $6,429,405. 2.30% of the stock is currently owned by corporate insiders.

Varonis Systems Stock Down 1.7%

NASDAQ:VRNS traded down $0.99 on Friday, reaching $56.20. The stock had a trading volume of 748,554 shares, compared to its average volume of 1,271,580. The company has a 50-day moving average of $55.23 and a 200 day moving average of $48.25. 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 stock has a market cap of $6.30 billion, a P/E ratio of -61.09 and a beta of 0.67. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58.

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, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million for the quarter, compared to analysts' expectations 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 revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. 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, research analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share 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.