First Trust Advisors LP Has $60.20 Million Position in Varonis Systems, Inc. $VRNS

Key Points

• First Trust Advisors LP cut its Varonis Systems stake by 36.7% in the first quarter, but still held about 2.44% of the company valued at $60.2 million as of the filing date.
• Varonis Systems has seen mixed but generally positive analyst sentiment, with several firms raising price targets; the consensus rating is Moderate Buy and the average target price is $45.42.
• The company reported better-than-expected quarterly results, posting EPS of $0.06 versus an expected loss and revenue of $173.13 million, up 26.9% year over year.

First Trust Advisors LP decreased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 36.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,803,987 shares of the technology company's stock after selling 1,623,258 shares during the quarter. First Trust Advisors LP owned approximately 2.44% of Varonis Systems worth $60,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRNS. PNC Financial Services Group Inc. increased its holdings in shares of Varonis Systems by 81.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,233 shares of the technology company's stock valued at $112,000 after purchasing an additional 2,355 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Varonis Systems by 556.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 203,037 shares of the technology company's stock worth $4,359,000 after buying an additional 172,088 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of 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 buying an additional 3,025 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Varonis Systems by 5.6% during the 1st quarter. Swiss National Bank now owns 233,254 shares of the technology company's stock worth $5,008,000 after buying an additional 12,300 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Varonis Systems by 21.0% during the 1st quarter. Assetmark Inc. now owns 4,848 shares of the technology company's stock worth $104,000 after buying an additional 841 shares during the period. 95.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VRNS has been the topic of several research analyst reports. Royal Bank Of Canada increased their price target on shares of Varonis Systems from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Needham & Company LLC boosted their price objective on Varonis Systems from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Citigroup reaffirmed an "overweight" rating on shares of Varonis Systems in a research report on Friday. Wedbush reiterated an "outperform" rating and set a $37.00 target price on shares of Varonis Systems in a research note on Wednesday, June 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $55.00 target price (up from $35.00) on shares of Varonis Systems in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $45.42.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $45.74 on Friday. Varonis Systems, Inc. has a twelve month low of $19.70 and a twelve month high of $63.90. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.00. The company has a 50-day simple moving average of $37.99 and a two-hundred day simple moving average of $30.42. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of -40.12 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.11. Varonis Systems had a negative net margin of 19.75% and a negative return on equity of 20.27%. The firm had revenue of $173.13 million during the quarter, compared to the consensus estimate of $165.52 million. The company's quarterly revenue was up 26.9% compared to the same quarter last year. Varonis Systems has set its FY 2026 guidance at 0.110-0.120 EPS and its Q2 2026 guidance at 0.000-0.010 EPS. Analysts forecast that Varonis Systems, Inc. will post -1.05 EPS for the current year.

About Varonis Systems

Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company's flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.

Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.

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