Goldman Sachs Group Inc. Grows Position in Varonis Systems, Inc. $VRNS

Key Points

• Goldman Sachs Group Inc. increased its stake in Varonis Systems by 26.2% in the first quarter, owning 4,084,830 shares valued at approximately $165 million.
• Varonis Systems reported a revenue increase of 16.7% year-over-year, with quarterly earnings exceeding analyst expectations at $0.03 EPS.
• Investment analysts maintain a consensus rating of "Moderate Buy" for Varonis Systems, with a target price averaging $61.65.

Goldman Sachs Group Inc. raised its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 26.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,084,830 shares of the technology company's stock after acquiring an additional 848,408 shares during the quarter. Goldman Sachs Group Inc. owned 3.65% of Varonis Systems worth $165,231,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP lifted its stake in shares of Varonis Systems by 31.8% in the first quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after purchasing an additional 261 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Varonis Systems in the 1st quarter worth approximately $69,000. NBC Securities Inc. increased its stake in Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after purchasing an additional 2,004 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Varonis Systems during the fourth quarter worth $163,000. Finally, PNC Financial Services Group Inc. boosted its position in Varonis Systems by 45.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the technology company's stock worth $182,000 after purchasing an additional 1,401 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Stock Down 1.8%

VRNS stock opened at $56.32 on Thursday. The company has a 50 day moving average price of $55.01 and a two-hundred day moving average price of $48.02. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $6.31 billion, a P/E ratio of -61.22 and a beta of 0.67. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping 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 business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. 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, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

VRNS has been the subject of several research reports. Citigroup lifted their price target on Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Robert W. Baird raised their target price on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. B. Riley initiated coverage on shares of Varonis Systems in a report on Tuesday, August 26th. They issued a "buy" rating and a $80.00 price target on the stock. UBS Group increased their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $64.00 price objective on shares of Varonis Systems in a research report on Wednesday, September 3rd. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.65.

Insider Transactions at Varonis Systems

In other news, CFO Guy Melamed sold 1,500 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $59.59, for a total transaction of $89,385.00. Following the transaction, the chief financial officer directly owned 412,105 shares in the company, valued at $24,557,336.95. This represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the firm'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 transaction of $165,240.00. Following the completion of the sale, the director directly owned 128,666 shares in the company, valued at $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,386 shares of company stock worth $6,429,405. 2.30% of the stock is owned by corporate insiders.

Varonis Systems Company 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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