Raymond James Financial Inc. Has $17 Million Stock Position in Varonis Systems, Inc. $VRNS

Key Points

• Raymond James Financial Inc. reduced its stake in Varonis Systems by 14.6%, now holding approximately $17 million worth of shares after selling 71,626 shares in the 1st quarter.
• Analysts have shown optimism for Varonis Systems, with UBS Group raising its price target to $65 and maintaining a "buy" rating, amidst a general trend of upgrades from various brokerages.
• In recent insider trading, CFO Guy Melamed sold 51,889 shares for about $2.86 million, representing a notable 9.93% decrease in his ownership of the stock.

Raymond James Financial Inc. reduced its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 420,380 shares of the technology company's stock after selling 71,626 shares during the period. Raymond James Financial Inc. owned approximately 0.38% of Varonis Systems worth $17,004,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Varonis Systems during the 4th quarter worth approximately $36,000. NBC Securities Inc. raised its holdings in Varonis Systems by 100,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after buying an additional 2,004 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Varonis Systems during the 4th quarter worth approximately $163,000. Tower Research Capital LLC TRC grew its stake in shares of Varonis Systems by 7.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock worth $193,000 after acquiring an additional 298 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake 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 worth $182,000 after acquiring an additional 1,401 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on VRNS. UBS Group raised their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised their price target on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $51.00 to $70.00 in a research note on Monday, August 11th. Citigroup raised their price target on shares of Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, DA Davidson raised their price target on shares of Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $60.47.

Insiders Place Their Bets

In other news, CFO Guy Melamed sold 51,889 shares of Varonis Systems stock in a transaction 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 completion of the sale, the chief financial officer owned 470,602 shares of the company's stock, valued at approximately $25,930,170.20. This trade represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Den Bosch Fred Van sold 6,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares of the company's stock, valued at approximately $6,583,300. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,994 shares of company stock valued at $6,408,369. Company insiders own 2.30% of the company's stock.

Varonis Systems Trading Up 1.9%

VRNS stock opened at $58.49 on Thursday. 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 has a fifty day moving average price of $53.57 and a two-hundred day moving average price of $47.07. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -63.58 and a beta of 0.71.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $147.80 million. During the same period in the previous year, the business posted $0.05 earnings per share. The company'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 analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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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