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

A number of other hedge funds have also modified their holdings of the company. Quarry LP lifted its position in shares of Varonis Systems by 31.8% in the first 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 last quarter. Mutual of America Capital Management LLC lifted its position in shares of Varonis Systems by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company's stock valued at $3,449,000 after buying an additional 284 shares during the last quarter. Teza Capital Management LLC lifted its position in shares of Varonis Systems by 3.1% in the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock valued at $437,000 after buying an additional 299 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Varonis Systems by 6.7% in the first quarter. Avantax Advisory Services Inc. now owns 7,423 shares of the technology company's stock valued at $300,000 after buying an additional 469 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Varonis Systems by 6.2% in the first quarter. Xponance Inc. now owns 8,369 shares of the technology company's stock valued at $339,000 after buying an additional 486 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 stock was sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy Melamed sold 51,889 shares of Varonis Systems stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.10, for a total value 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. This represents a 9.93% 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 ninety days. Insiders own 2.30% of the company's stock.

Varonis Systems Stock Performance

NASDAQ:VRNS traded down $0.99 during mid-day trading on Friday, hitting $56.20. 748,554 shares of the stock were exchanged, compared to its average volume of 1,271,580. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -61.09 and a beta of 0.67. The firm's 50-day simple moving average is $55.23 and its 200 day simple moving average is $48.21. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week 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 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million during 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 firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last 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. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRNS shares. Susquehanna raised their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Robert W. Baird raised their price objective on Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised Varonis Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $51.00 to $70.00 in a research report on Monday, August 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 price target on shares of Varonis Systems in a report on Tuesday, July 22nd. Finally, DA Davidson lifted their price target on Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.