Hodges Capital Management Inc. Decreases Holdings in Varonis Systems, Inc. $VRNS

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. cut its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 58.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,375 shares of the technology company's stock after selling 86,833 shares during the quarter. Hodges Capital Management Inc. owned 0.05% of Varonis Systems worth $2,483,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a research note on Tuesday, July 22nd. Citigroup boosted their target price on Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Morgan Stanley boosted their target price on Varonis Systems from $59.00 to $66.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Barclays boosted their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, UBS Group boosted their target price on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and an average price target of $61.65.

Insider Activity

In other news, CFO Guy Melamed sold 1,500 shares of the company's 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 completion of the sale, the chief financial officer owned 412,105 shares of the company's stock, valued at $24,557,336.95. This represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the company's 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 sale, the director directly owned 128,666 shares of the company's stock, valued at $7,086,923.28. The trade was a 2.28% 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. Insiders own 2.30% of the company's stock.

Varonis Systems Price Performance

NASDAQ VRNS opened at $57.19 on Friday. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The firm has a market capitalization of $6.41 billion, a P/E ratio of -62.16 and a beta of 0.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $55.13 and a 200-day moving average price of $48.12.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS 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 analyst estimates of $147.80 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business's revenue for the quarter 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. Equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current 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.

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