Varonis Systems, Inc. $VRNS Shares Bought by Rhumbline Advisers

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 stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 173,984 shares of the technology company's stock after purchasing 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 SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP lifted its holdings in Varonis Systems by 31.8% during the 1st quarter. Quarry LP now owns 1,082 shares of the technology company's stock worth $44,000 after purchasing an additional 261 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Varonis Systems during the 1st quarter worth about $69,000. NBC Securities Inc. lifted 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 purchasing an additional 2,004 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Varonis Systems during the 4th quarter worth about $163,000. Finally, PNC Financial Services Group Inc. lifted its holdings in 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 purchasing an additional 1,401 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded up $0.20 during trading on Wednesday, hitting $57.36. 571,012 shares of the company's stock were exchanged, compared to its average volume of 1,532,139. The business's 50-day simple moving average is $55.45 and its 200 day simple moving average is $48.44. The company has a market cap of $6.43 billion, a price-to-earnings ratio of -62.34 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 debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million during the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $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. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

VRNS has been the topic of several recent research reports. Susquehanna increased their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Varonis Systems in a research note on Wednesday, September 3rd. DA Davidson lifted their price target on Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. B. Riley started coverage on Varonis Systems in a research report on Tuesday, August 26th. They set a "buy" rating and a $80.00 price target on the stock. Finally, Citigroup boosted their target price on Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $61.65.

Insiders Place Their Bets

In related news, CFO Guy Melamed sold 51,889 shares of the business's 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 transaction, the chief financial officer directly owned 470,602 shares in the company, valued at $25,930,170.20. The trade was a 9.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $55.08, for a total value of $165,240.00. Following the sale, the director directly owned 128,666 shares of the company's stock, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,386 shares of company stock worth $6,429,405 over the last quarter. Company 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.