Rhumbline Advisers Boosts Stake in Varonis Systems, Inc. $VRNS

Key Points

• Rhumbline Advisers increased its stake in Varonis Systems by 5.7% in Q1, owning 173,984 shares valued at $7.04 million.
• Varonis reported a quarterly revenue of $152.16 million, exceeding analysts' expectations, but had a negative net margin of 17.30% and a negative return on equity of 23.06%.
• UBS and other analysts have raised their price targets for Varonis Systems, with UBS setting a new target of $65 and maintaining a "buy" rating.

Rhumbline Advisers increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,984 shares of the technology company's stock after buying an additional 9,404 shares during the period. Rhumbline Advisers owned 0.16% of Varonis Systems worth $7,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP raised its position in shares of Varonis Systems by 31.8% in the first quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after buying an additional 261 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Varonis Systems during the first quarter valued at approximately $69,000. NBC Securities Inc. raised its position in Varonis Systems by 100,200.0% during the first 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 in the last quarter. Raiffeisen Bank International AG acquired a new position in Varonis Systems during the fourth quarter valued at approximately $163,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Varonis Systems by 45.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the technology company's stock worth $182,000 after buying an additional 1,401 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Trading Down 1.7%

VRNS traded down $0.99 during trading on Friday, reaching $56.20. 748,554 shares of the stock traded hands, compared to its average volume of 1,241,406. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $6.30 billion, a PE ratio of -61.09 and a beta of 0.67. The stock's 50-day moving average is $55.23 and its 200 day moving average is $48.29. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRNS. Barclays upped their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reissued an "outperform" rating and issued a $64.00 price objective on shares of Varonis Systems in a research note on Wednesday, September 3rd. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Varonis Systems in a research note on Wednesday, September 3rd. Citigroup boosted their price objective 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 boosted their price objective 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Varonis Systems currently has an average rating of "Moderate Buy" and an average target price of $61.65.

Insider Transactions at Varonis Systems

In related news, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.10, for a total value of $2,859,083.90. Following the sale, the chief financial officer owned 470,602 shares in the company, valued at $25,930,170.20. This represents a 9.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the sale, the director owned 128,666 shares in the company, valued at $7,086,923.28. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,386 shares of company stock worth $6,429,405 in the last three months. Insiders own 2.30% of the company's stock.

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.