Engineers Gate Manager LP Buys New Position in Varonis Systems, Inc. $VRNS

Key Points

• Engineers Gate Manager LP bought 34,342 shares of Varonis Systems worth approximately $1.44 million, while institutional investors collectively own 95.65% of the company.
• Analyst sentiment is favorable, with a “Moderate Buy” consensus from 24 analysts and an average price target of $49.79; several firms recently raised their targets.
• Varonis exceeded quarterly earnings and revenue expectations, reporting $0.04 EPS and $180.02 million in revenue, up 18.3% year over year, despite continued negative net margins.

Engineers Gate Manager LP purchased a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,342 shares of the technology company's stock, valued at approximately $1,441,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Varonis Systems by 161.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company's stock worth $29,000 after purchasing an additional 839 shares in the last quarter. Fifth Third Bancorp increased its stake in Varonis Systems by 10,694.1% during the 1st quarter. Fifth Third Bancorp now owns 1,835 shares of the technology company's stock valued at $39,000 after purchasing an additional 1,818 shares in the last quarter. Essential Partners LLC increased its stake in Varonis Systems by 72.5% during the 1st quarter. Essential Partners LLC now owns 2,054 shares of the technology company's stock valued at $44,000 after purchasing an additional 863 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Varonis Systems in the 2nd quarter worth $55,000. Finally, Parallel Advisors LLC lifted its position in Varonis Systems by 1,025.4% during the 1st quarter. Parallel Advisors LLC now owns 3,320 shares of the technology company's stock worth $71,000 after acquiring an additional 3,025 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. New Street Research reissued a "buy" rating on shares of Varonis Systems in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of Varonis Systems from $35.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. Piper Sandler upped their price target on shares of Varonis Systems from $47.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Wedbush reaffirmed a "neutral" rating and set a $46.00 target price on shares of Varonis Systems in a report on Friday, September 11th. Finally, Stephens raised Varonis Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $33.00 to $45.00 in a report on Wednesday, June 24th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.79.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $47.81 on Friday. The company has a market capitalization of $5.49 billion, a PE ratio of -38.87 and a beta of 0.82. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.65 and a current ratio of 1.65. The company's fifty day moving average price is $44.38 and its 200 day moving average price is $34.45. Varonis Systems, Inc. has a 1 year low of $19.70 and a 1 year high of $63.90.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. The company had revenue of $180.02 million during the quarter, compared to analysts' expectations of $176.83 million. Varonis Systems had a negative net margin of 20.55% and a negative return on equity of 19.18%. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. Varonis Systems has set its FY 2026 guidance at 0.140-0.150 EPS and its Q3 2026 guidance at 0.020-0.030 EPS. On average, research analysts predict that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

Varonis Systems Profile

Varonis Systems, Inc NASDAQ: VRNS is a cybersecurity company that helps organizations protect and manage their data. Its platform focuses on securing sensitive information stored across cloud environments, software-as-a-service applications, data centers and other enterprise systems.

The Varonis Data Security Platform provides capabilities for data discovery and classification, access governance, threat detection, data activity monitoring and automated remediation. Its products are designed to identify sensitive or exposed data, reduce excessive access permissions, detect suspicious behavior and help organizations respond to risks involving files, emails and other unstructured data.

Founded in 2005, Varonis serves businesses and institutions internationally through a combination of direct sales and channel partners.

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