Axiom Investors LLC DE Lowers Stock Holdings in Varonis Systems, Inc. $VRNS

Key Points

• Axiom Investors LLC DE reduced its stake in Varonis Systems, Inc. by 56.2% in the first quarter, holding 107,468 shares valued at approximately $4.35 million.
• Numerous other investors increased their holdings, with Goldman Sachs Group Inc. raising its stake by 26.2% to 4,084,830 shares worth $165.23 million.
• Analysts have varied target price changes for Varonis, with Citigroup raising its target to $58.00 and UBS Group to $65.00, indicating a generally positive outlook on the stock.

Axiom Investors LLC DE cut its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 56.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,468 shares of the technology company's stock after selling 137,767 shares during the period. Axiom Investors LLC DE owned approximately 0.10% of Varonis Systems worth $4,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in VRNS. Captrust Financial Advisors grew its position in shares of Varonis Systems by 66.6% in the fourth quarter. Captrust Financial Advisors now owns 13,765 shares of the technology company's stock valued at $612,000 after purchasing an additional 5,502 shares in the last quarter. Deutsche Bank AG grew its position in shares of Varonis Systems by 97.7% in the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after purchasing an additional 661,436 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Varonis Systems by 11.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 51,230 shares of the technology company's stock valued at $2,276,000 after purchasing an additional 5,419 shares in the last quarter. Graham Capital Management L.P. grew its position in shares of Varonis Systems by 207.3% in the fourth quarter. Graham Capital Management L.P. now owns 31,894 shares of the technology company's stock valued at $1,417,000 after purchasing an additional 21,514 shares in the last quarter. Finally, Occudo Quantitative Strategies LP grew its position in Varonis Systems by 5.2% in the fourth quarter. Occudo Quantitative Strategies LP now owns 10,871 shares of the technology company's stock worth $483,000 after acquiring an additional 540 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRNS has been the subject of several analyst reports. Citigroup increased their price objective on Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Wells Fargo & Company upgraded Varonis Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $51.00 to $70.00 in a research report on Monday, August 11th. Needham & Company LLC reiterated a "buy" rating and issued a $70.00 price objective on shares of Varonis Systems in a research report on Wednesday, September 3rd. Wedbush reiterated an "outperform" rating and issued a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, September 3rd. Finally, UBS Group increased their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.65.

Insider Buying and Selling at Varonis Systems

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

Varonis Systems Trading Down 1.7%

NASDAQ:VRNS traded down $0.99 during trading hours on Friday, reaching $56.20. 742,101 shares of the stock were exchanged, compared to its average volume of 1,537,188. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. The business has a 50-day moving average of $55.13 and a two-hundred day moving average of $48.12. 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 $6.30 billion, a price-to-earnings ratio of -61.09 and a beta of 0.67.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced 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 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 for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $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, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS 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.