Granahan Investment Management LLC Raises Position in Varonis Systems, Inc. $VRNS

Key Points

• Granahan Investment Management LLC significantly increased its stake in Varonis Systems by 45.6% during the first quarter, owning approximately 199,493 shares valued at $8.07 million.
• Several other institutional investors, including RGM Capital LLC and Deutsche Bank AG, also boosted their holdings, leading to institutional ownership of 95.65% of Varonis Systems' stock.
• Varonis Systems reported a quarterly earnings per share of $0.03, exceeding estimates, and provided FY 2025 guidance of 0.160-0.180 EPS, with analysts maintaining a moderately positive outlook on the stock.

Granahan Investment Management LLC lifted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 45.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,493 shares of the technology company's stock after buying an additional 62,488 shares during the period. Granahan Investment Management LLC owned about 0.18% of Varonis Systems worth $8,069,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Quarry LP lifted its stake in Varonis Systems by 31.8% in the 1st quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after purchasing an additional 261 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Varonis Systems in the 1st quarter valued at about $69,000. NBC Securities Inc. lifted its stake in Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after purchasing an additional 2,004 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Varonis Systems in the 4th quarter valued at about $163,000. Finally, PNC Financial Services Group Inc. lifted its stake in Varonis Systems by 45.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the technology company's stock valued at $182,000 after purchasing an additional 1,401 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent analyst reports. B. Riley began coverage on shares of Varonis Systems in a research note on Tuesday, August 26th. They issued a "buy" rating and a $80.00 target price for the company. Jefferies Financial Group upgraded shares of Varonis Systems from a "hold" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating and set a $64.00 price objective on shares of Varonis Systems in a research report on Wednesday, September 3rd. Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, September 3rd. Finally, Susquehanna raised their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and an average price target of $61.65.

Insider Activity

In other Varonis Systems news, CFO Guy Melamed sold 1,500 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $59.59, for a total value of $89,385.00. Following the completion of the transaction, the chief financial officer directly owned 412,105 shares of the company's stock, valued at $24,557,336.95. This trade represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction on Friday, August 1st. The stock was 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. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,386 shares of company stock valued at $6,429,405. Company insiders own 2.30% of the company's stock.

Varonis Systems Trading Down 1.8%

Shares of Varonis Systems stock traded down $1.02 during trading on Wednesday, hitting $56.34. The company's stock had a trading volume of 199,897 shares, compared to its average volume of 1,541,829. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of -61.29 and a beta of 0.67. The stock has a 50-day moving average price of $54.88 and a two-hundred day moving average price of $47.96.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping 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 company had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.80 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Varonis Systems's revenue for the quarter was up 16.7% on a year-over-year basis. 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 EPS 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.