Legal & General Group Plc Takes $4 Million Position in Varonis Systems, Inc. $VRNS

Key Points

• Legal & General Group Plc acquired 95,281 shares of Varonis Systems worth approximately $4 million, giving it a 0.08% stake. Institutional investors collectively own 95.65% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $49.05; several firms recently raised their targets.
• Varonis reported quarterly revenue of $180.02 million, up 18.3% year over year, and EPS of $0.04—beating the $0.01 analyst consensus. Shares opened at $46.09, while the company continues to report negative margins and expected full-year losses.

Legal & General Group Plc purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,281 shares of the technology company's stock, valued at approximately $3,998,000. Legal & General Group Plc owned 0.08% of Varonis Systems at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Varonis Systems by 161.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company's stock worth $29,000 after acquiring an additional 839 shares during the last quarter. Empowered Funds LLC bought a new stake in Varonis Systems in the 4th quarter valued at $37,000. Fifth Third Bancorp lifted its stake in Varonis Systems by 10,694.1% in the 1st quarter. Fifth Third Bancorp now owns 1,835 shares of the technology company's stock worth $39,000 after purchasing an additional 1,818 shares in the last quarter. Essential Partners LLC lifted its stake in Varonis Systems by 72.5% in the 1st quarter. Essential Partners LLC now owns 2,054 shares of the technology company's stock worth $44,000 after purchasing an additional 863 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Varonis Systems during the 2nd quarter valued at about $55,000. Institutional investors own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VRNS shares. Citigroup lifted their target price on Varonis Systems from $30.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. TD Cowen increased their price target on Varonis Systems from $50.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. New Street Research restated a "buy" rating on shares of Varonis Systems in a report on Wednesday, July 29th. Needham & Company LLC lifted their price objective on Varonis Systems from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Wedbush reaffirmed an "outperform" rating and set a $37.00 price objective on shares of Varonis Systems in a report on Wednesday, June 24th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.05.

Varonis Systems Stock Down 0.9%

Shares of NASDAQ:VRNS opened at $46.09 on Friday. The firm has a market capitalization of $5.29 billion, a PE ratio of -37.47 and a beta of 0.82. The business has a 50 day simple moving average of $43.87 and a two-hundred day simple moving average of $32.95. Varonis Systems, Inc. has a 1 year low of $19.70 and a 1 year high of $63.90. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.65 and a quick ratio of 1.65.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%.The firm had revenue of $180.02 million during the quarter, compared to analyst estimates of $176.83 million. During the same period last year, the company earned $0.03 EPS. Varonis Systems's quarterly revenue was up 18.3% compared to the same quarter last year. Varonis Systems has set its FY 2026 guidance at 0.140-0.150 EPS and its Q3 2026 guidance at 0.020-0.030 EPS. On average, equities analysts predict that Varonis Systems, Inc. will post -0.97 EPS for the current year.

About Varonis Systems

Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company's flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.

Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.

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