Varonis Systems, Inc. $VRNS Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE significantly reduced its stake in Varonis Systems, Inc. by 56.2% in the first quarter, now holding approximately $4.35 million worth of shares.
• Several analysts have raised their price targets for Varonis Systems, with Wells Fargo increasing its target from $51.00 to $70.00 and a consensus price target of $59.25 among analysts.
• Varonis Systems reported a 16.7% increase in revenue year-over-year, with quarterly earnings surpassing expectations by reporting $0.03 EPS against a consensus estimate of $0.01 EPS.

Axiom Investors LLC DE trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 56.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,468 shares of the technology company's stock after selling 137,767 shares during the period. Axiom Investors LLC DE owned about 0.10% of Varonis Systems worth $4,347,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Quarry LP bought a new position in shares of Varonis Systems in the 4th quarter worth approximately $36,000. Johnson Financial Group Inc. purchased a new stake in Varonis Systems during the fourth quarter valued at approximately $61,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Varonis Systems during the first quarter valued at approximately $69,000. NBC Securities Inc. raised its position in 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 period. Finally, Raiffeisen Bank International AG purchased a new position in shares of Varonis Systems during the 4th quarter worth $163,000. 95.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank Of Canada upped their price objective on Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised Varonis Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $51.00 to $70.00 in a report on Monday, August 11th. Susquehanna raised their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Citigroup increased their price objective on shares of Varonis Systems from $51.00 to $58.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Finally, B. Riley assumed coverage on shares of Varonis Systems in a research report on Tuesday. They set a "buy" rating and a $80.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Varonis Systems presently has an average rating of "Moderate Buy" and an average price target of $60.47.

Insider Activity

In other news, CFO Guy Melamed sold 10,400 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $59.53, for a total value of $619,112.00. Following the completion of the sale, the chief financial officer owned 417,497 shares of the company's stock, valued at approximately $24,853,596.41. This represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 128,666 shares in the company, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,994 shares of company stock valued at $6,408,369. Company insiders own 2.30% of the company's stock.

Varonis Systems Trading Up 1.1%

VRNS traded up $0.67 during trading hours on Thursday, reaching $59.16. 894,177 shares of the company's stock traded hands, compared to its average volume of 1,554,507. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58. The firm has a market capitalization of $6.63 billion, a PE ratio of -64.30 and a beta of 0.71. The firm has a 50-day moving average price of $53.57 and a 200 day moving average price of $47.07. The company has a quick ratio of 1.38, a current 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 (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company 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. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal 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.