49,063 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has acquired 49,063 shares of Varonis Systems, Inc. for about $1,985,000, reflecting growing institutional interest in the technology company.
• In recent quarters, several hedge funds significantly increased their stakes in Varonis Systems, with notable acquisitions from Norges Bank and Renaissance Technologies, highlighting strong institutional support.
• Equities analysts have raised their price targets for Varonis Systems, with Wedbush and Royal Bank of Canada setting new targets at $65.00, indicating positive market sentiment around the company's performance.

Banque Cantonale Vaudoise purchased a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 49,063 shares of the technology company's stock, valued at approximately $1,985,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VRNS. Norges Bank purchased a new position in shares of Varonis Systems in the 4th quarter valued at about $56,561,000. Deutsche Bank AG boosted its holdings in Varonis Systems by 97.7% in the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock worth $59,467,000 after buying an additional 661,436 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Varonis Systems by 64.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company's stock worth $61,322,000 after buying an additional 541,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Varonis Systems by 11,353.2% in the 4th quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company's stock worth $23,917,000 after buying an additional 533,600 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in Varonis Systems by 52.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock worth $62,376,000 after buying an additional 529,182 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Insider Buying and Selling

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the business'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 value of $165,240.00. Following the sale, the director owned 128,666 shares of the company's stock, valued at $7,086,923.28. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Guy Melamed sold 51,889 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 470,602 shares in the company, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,889 shares of company stock worth $3,324,324. 2.30% of the stock is owned by corporate insiders.

Varonis Systems Trading Down 2.0%

Shares of VRNS stock traded down $1.10 during trading on Friday, hitting $54.73. 2,070,121 shares of the stock traded hands, compared to its average volume of 1,689,729. The firm has a market capitalization of $6.13 billion, a P/E ratio of -59.49 and a beta of 0.71. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.15. The firm's fifty day moving average price is $50.76 and its 200-day moving average price is $45.51. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. As a group, research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada lifted their price objective on Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday. Susquehanna lifted their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price objective on shares of Varonis Systems in a report on Tuesday, July 22nd. UBS Group boosted their target price on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Varonis Systems from $46.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.31.

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.