AQR Capital Management LLC Purchases 208,891 Shares of Varonis Systems, Inc. $VRNS

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP lifted its holdings 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 buying an additional 261 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Varonis Systems in the first quarter worth $69,000. NBC Securities Inc. raised its holdings in shares of Varonis Systems by 100,200.0% in the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after acquiring an additional 2,004 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $163,000. Finally, PNC Financial Services Group Inc. grew its position in shares of 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. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

VRNS stock traded down $0.87 during trading on Friday, reaching $56.33. 429,072 shares of the stock were exchanged, compared to its average volume of 1,535,253. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a market capitalization of $6.31 billion, a P/E ratio of -61.45 and a beta of 0.67. The stock has a 50 day simple moving average of $55.13 and a 200-day simple moving average of $48.12. The company has a current ratio of 1.38, a quick 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 data on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company's quarterly revenue was up 16.7% on a year-over-year basis. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the sale, the director owned 128,666 shares of the company's stock, valued at approximately $7,086,923.28. The trade was a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of Varonis Systems 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 sale, the chief financial officer directly owned 470,602 shares of the company's stock, valued at $25,930,170.20. This represents a 9.93% decrease in their position. 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 in the last 90 days. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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. B. Riley assumed coverage on Varonis Systems in a research note on Tuesday, August 26th. They set a "buy" rating and a $80.00 price objective on the stock. Jefferies Financial Group raised Varonis Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $50.00 to $65.00 in a report on Thursday, July 24th. Susquehanna increased their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Finally, Barclays increased 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. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.65.

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.