Focus Partners Wealth Purchases New Shares in Varonis Systems, Inc. $VRNS

Key Points

• Focus Partners Wealth has acquired a new position in Varonis Systems, purchasing 98,217 shares valued at approximately $3.97 million, which represents a 0.09% ownership stake in the company.
• Several other hedge funds, including Goldman Sachs and RGM Capital, have significantly increased their stakes in Varonis Systems during the 1st quarter, with Goldman Sachs now owning over 4 million shares valued at $165.23 million.
• Varonis Systems reported a positive earnings surprise in its last quarter, with earnings per share of $0.03, exceeding expectations, and revenue of $152.16 million, reflecting a 16.7% year-over-year growth.

Focus Partners Wealth purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 98,217 shares of the technology company's stock, valued at approximately $3,973,000. Focus Partners Wealth owned about 0.09% of Varonis Systems at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Varonis Systems by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company's stock valued at $165,231,000 after purchasing an additional 848,408 shares during the period. RGM Capital LLC grew its stake in shares of Varonis Systems by 45.5% during the 1st quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock valued at $109,479,000 after acquiring an additional 846,475 shares during the period. Stephens Investment Management Group LLC grew its stake in shares of Varonis Systems by 14.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock valued at $64,904,000 after acquiring an additional 205,781 shares during the period. Penserra Capital Management LLC grew its stake in shares of Varonis Systems by 52.2% during the 1st quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after acquiring an additional 529,182 shares during the period. Finally, Phoenix Financial Ltd. grew its stake in shares of Varonis Systems by 30.2% during the 1st quarter. Phoenix Financial Ltd. now owns 1,482,287 shares of the technology company's stock valued at $59,964,000 after acquiring an additional 343,709 shares during the period. Hedge funds and other institutional investors own 95.65% of the company's stock.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction dated 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 sale, the director directly owned 128,666 shares in the company, valued at approximately $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 1,500 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $59.59, for a total value of $89,385.00. Following the completion of the sale, the chief financial officer owned 412,105 shares of the company's stock, valued at $24,557,336.95. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,386 shares of company stock valued at $6,429,405. 2.30% of the stock is currently owned by company insiders.

Varonis Systems Price Performance

VRNS opened at $56.19 on Tuesday. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32. The business's fifty day simple moving average is $55.33 and its 200-day simple moving average is $48.38. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -61.08 and a beta of 0.67.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. During the same quarter in the prior year, the company earned $0.05 EPS. The business's revenue was up 16.7% compared to the same quarter last year. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRNS. Morgan Stanley boosted their price objective on Varonis Systems from $59.00 to $66.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Jefferies Financial Group upgraded Varonis Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $65.00 in a research note on Thursday, July 24th. Wedbush reissued an "outperform" rating and issued a $65.00 price target on shares of Varonis Systems in a report on Wednesday, September 3rd. Barclays boosted their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, DA Davidson boosted 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 research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $61.65.

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.

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