Varonis Systems, Inc. $VRNS Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. has significantly reduced its holdings in Varonis Systems by 58.6%, now owning 61,375 shares after selling 86,833 shares in the first quarter.
• Analysts have generally rated Varonis Systems positively, with recent price targets increasing; Citigroup raised its target from $51 to $58, and both Morgan Stanley and Barclays also boosted their targets to $66 and $62, respectively.
• Insider trading activity includes CFO Guy Melamed selling 1,500 shares valued at approximately $89,385, demonstrating a slight decrease in his ownership position.

Hodges Capital Management Inc. lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 58.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,375 shares of the technology company's stock after selling 86,833 shares during the period. Hodges Capital Management Inc. owned about 0.05% of Varonis Systems worth $2,483,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of VRNS. Captrust Financial Advisors raised its position in shares of Varonis Systems by 66.6% in the fourth quarter. Captrust Financial Advisors now owns 13,765 shares of the technology company's stock worth $612,000 after acquiring an additional 5,502 shares during the period. Ensign Peak Advisors Inc raised its position in shares of Varonis Systems by 11.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 51,230 shares of the technology company's stock worth $2,276,000 after acquiring an additional 5,419 shares during the period. Occudo Quantitative Strategies LP raised its position in shares of Varonis Systems by 5.2% in the fourth quarter. Occudo Quantitative Strategies LP now owns 10,871 shares of the technology company's stock worth $483,000 after acquiring an additional 540 shares during the period. Man Group plc raised its position in shares of Varonis Systems by 128.0% in the fourth quarter. Man Group plc now owns 352,629 shares of the technology company's stock worth $15,667,000 after acquiring an additional 198,001 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Varonis Systems by 47.9% in the fourth quarter. ProShare Advisors LLC now owns 31,363 shares of the technology company's stock worth $1,393,000 after acquiring an additional 10,157 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Varonis Systems in a research note on Wednesday, September 3rd. Barclays boosted their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Susquehanna boosted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $51.00 to $70.00 in a research note on Monday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Varonis Systems has a consensus rating of "Moderate Buy" and an average target price of $61.65.

Insider Buying and Selling

In related news, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction that occurred on 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 owned 128,666 shares of the company's stock, valued at approximately $7,086,923.28. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 51,889 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 113,386 shares of company stock valued at $6,429,405 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $0.11 on Wednesday, hitting $57.27. 571,012 shares of the company were exchanged, compared to its average volume of 1,532,139. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of -62.34 and a beta of 0.67. The company has a 50-day moving average price of $55.45 and a 200 day moving average price of $48.44. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32.

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 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 business had revenue of $152.16 million during the quarter, compared to analysts' expectations of $147.80 million. During the same quarter in the prior year, the company posted $0.05 EPS. The business'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, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share 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.