Varonis Systems, Inc. $VRNS Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its ownership in Varonis Systems, Inc. by 20.7%, now holding 22,183 shares valued at approximately $897,000.
• Several institutional investors, including AQR Capital Management and Northern Trust Corp, have increased their stakes, reflecting strong interest from hedge funds, which now own 95.65% of the company's stock.
• Varonis Systems recently reported quarterly earnings of $0.03 per share, surpassing expectations, with a 16.7% year-over-year revenue growth, leading analysts to project a Moderate Buy rating for the stock.

Russell Investments Group Ltd. decreased its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,183 shares of the technology company's stock after selling 5,801 shares during the period. Russell Investments Group Ltd.'s holdings in Varonis Systems were worth $897,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. acquired a new stake in shares of Varonis Systems in the first quarter valued at about $346,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Varonis Systems by 18.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company's stock valued at $352,000 after purchasing an additional 1,323 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Varonis Systems by 14.7% in the first quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock valued at $64,904,000 after purchasing an additional 205,781 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Varonis Systems by 52.2% in the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after purchasing an additional 529,182 shares during the period. Finally, Legacy Advisors LLC lifted its stake in shares of Varonis Systems by 164.5% in the first quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company's stock valued at $853,000 after purchasing an additional 13,115 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Insider Buying and Selling

In related news, Director Den Bosch Fred Van sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the sale, the director directly owned 128,666 shares in the company, valued at approximately $7,086,923.28. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 1,500 shares of the business's stock in a transaction that occurred on 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 approximately $24,557,336.95. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,386 shares of company stock valued at $6,429,405. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. DA Davidson raised their target price on shares of Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Barclays raised their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada restated an "outperform" rating and set a $64.00 target price on shares of Varonis Systems in a report on Wednesday. Wells Fargo & Company upgraded shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $51.00 to $70.00 in a report on Monday, August 11th. Finally, B. Riley began coverage on shares of Varonis Systems in a report on Tuesday, August 26th. They set a "buy" rating and a $80.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.65.

Varonis Systems Trading Down 3.6%

Shares of NASDAQ VRNS traded down $2.04 during midday trading on Wednesday, reaching $54.80. 1,156,885 shares of the stock were exchanged, compared to its average volume of 1,550,980. The company has a market capitalization of $6.14 billion, a P/E ratio of -59.65 and a beta of 0.67. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average price of $54.28 and a 200-day moving average price of $47.51.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. 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 expect 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.