The Manufacturers Life Insurance Company Sells 833,712 Shares of Varonis Systems, Inc. $VRNS

Key Points

• The Manufacturers Life Insurance Company cut its Varonis Systems stake by 93.9%, selling 833,712 shares and retaining 54,001 shares valued at approximately $1.16 million. Institutional investors still own 95.65% of the company.
• Varonis reported quarterly revenue of $180.02 million, up 18.3% year over year, and EPS of $0.04, beating analyst expectations of $0.01. However, the company remains unprofitable, with a negative net margin of 20.55%.
• Analysts remain broadly positive, with 17 Buy, six Hold and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $49.05, compared with a recent price of $42.11.

The Manufacturers Life Insurance Company lowered its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 54,001 shares of the technology company's stock after selling 833,712 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Varonis Systems were worth $1,159,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC raised its holdings in shares of Varonis Systems by 47.8% during the fourth quarter. Signaturefd LLC now owns 995 shares of the technology company's stock valued at $33,000 after acquiring an additional 322 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Varonis Systems by 5.5% in the second quarter. Benjamin Edwards Inc. now owns 6,692 shares of the technology company's stock valued at $340,000 after acquiring an additional 351 shares in the last quarter. Amundi increased its position in Varonis Systems by 0.7% during the 3rd quarter. Amundi now owns 52,886 shares of the technology company's stock valued at $3,212,000 after purchasing an additional 387 shares during the period. Osaic Holdings Inc. increased its position in Varonis Systems by 10.5% during the 2nd quarter. Osaic Holdings Inc. now owns 4,647 shares of the technology company's stock valued at $234,000 after purchasing an additional 440 shares during the period. Finally, Xponance LLC raised its holdings in Varonis Systems by 6.2% in the 4th quarter. Xponance LLC now owns 9,212 shares of the technology company's stock worth $302,000 after purchasing an additional 539 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Down 0.8%

NASDAQ:VRNS opened at $42.11 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.65 and a quick ratio of 1.65. The firm's 50-day moving average price is $40.56 and its 200-day moving average price is $31.10. The company has a market capitalization of $4.84 billion, a PE ratio of -34.24 and a beta of 0.83. Varonis Systems, Inc. has a 1-year low of $19.70 and a 1-year high of $63.90.

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, beating analysts' consensus estimates of $0.01 by $0.03. Varonis Systems had a negative net margin of 20.55% and a negative return on equity of 19.18%. The company had revenue of $180.02 million during the quarter, compared to analysts' expectations of $176.83 million. During the same period last year, the company posted $0.03 EPS. Varonis Systems's revenue was up 18.3% on a year-over-year basis. 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 fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stephens raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $33.00 to $45.00 in a research note on Wednesday, June 24th. DA Davidson increased their price target on shares of Varonis Systems from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Truist Financial raised their price objective on shares of Varonis Systems from $34.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. New Street Research reaffirmed a "buy" rating on shares of Varonis Systems in a research report on Wednesday, July 29th. Finally, Barclays reduced their target price on Varonis Systems from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $49.05.

Varonis Systems Company Profile

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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