Focus Partners Wealth Takes Position 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 bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 98,217 shares of the technology company's stock, valued at approximately $3,973,000. Focus Partners Wealth owned 0.09% of Varonis Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of VRNS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Varonis Systems by 11.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company's stock valued at $25,049,000 after acquiring an additional 64,636 shares in the last quarter. Woodline Partners LP bought a new position in Varonis Systems during the 1st quarter worth $8,627,000. Caxton Associates LLP bought a new position in Varonis Systems during the 1st quarter worth $200,000. Goldman Sachs Group Inc. grew its holdings 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 worth $165,231,000 after purchasing an additional 848,408 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Varonis Systems during the 1st quarter worth $233,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Guy Melamed sold 51,889 shares of Varonis Systems stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the sale, the chief financial officer owned 470,602 shares of the company's stock, valued at $25,930,170.20. The trade was a 9.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the transaction, the director directly owned 128,666 shares of the company's stock, valued at $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,386 shares of company stock worth $6,429,405. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on VRNS. Jefferies Financial Group upgraded Varonis Systems from a "hold" rating to a "buy" rating and increased their target price for the company from $50.00 to $65.00 in a research report on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of Varonis Systems in a research note on Wednesday, September 3rd. Wedbush reaffirmed an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, September 3rd. UBS Group lifted their price target on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company upgraded Varonis Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $51.00 to $70.00 in a research note on Monday, August 11th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.65.

Varonis Systems Price Performance

VRNS stock traded up $0.57 during trading on Friday, hitting $58.06. The stock had a trading volume of 3,412,272 shares, compared to its average volume of 1,279,114. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. The company's 50-day moving average price is $55.81 and its two-hundred day moving average price is $48.72. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The stock has a market capitalization of $6.51 billion, a P/E ratio of -63.11 and a beta of 0.67.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. During the same quarter last year, the firm earned $0.05 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. 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, research 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.