Ieq Capital LLC Raises Holdings in Varonis Systems, Inc. $VRNS

Key Points

• Ieq Capital LLC increased its stake in Varonis Systems, Inc. by 10.0%, now holding 178,637 shares worth approximately $7.23 million.
• Varonis Systems reported a quarterly earnings per share (EPS) of $0.03, exceeding analysts' expectations, and its revenue increased by 16.7% year-over-year, totaling $152.16 million.
• Barclays and Wells Fargo both raised their price targets for Varonis Systems, with Barclays setting it at $62.00 and Wells Fargo at $70.00, reflecting a positive outlook on the stock.

Ieq Capital LLC raised its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,637 shares of the technology company's stock after purchasing an additional 16,245 shares during the period. Ieq Capital LLC owned 0.16% of Varonis Systems worth $7,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. RGM Capital LLC boosted its holdings in shares of Varonis Systems by 45.5% during the 1st quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock valued at $109,479,000 after purchasing an additional 846,475 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Varonis Systems by 28.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock valued at $86,807,000 after purchasing an additional 431,306 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Varonis Systems by 14.7% during the 1st 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 last quarter. Penserra Capital Management LLC boosted its holdings in shares of Varonis Systems by 52.2% during the 1st 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 last quarter. Finally, Phoenix Financial Ltd. boosted its holdings in shares of Varonis Systems by 30.2% during the 1st quarter. Phoenix Financial Ltd. now owns 1,482,287 shares of the technology company's stock valued at $59,964,000 after purchasing an additional 343,709 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Down 0.2%

Varonis Systems stock traded down $0.14 during midday trading on Friday, reaching $59.02. The stock had a trading volume of 1,025,721 shares, compared to its average volume of 1,381,474. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of -64.15 and a beta of 0.67. The company has a fifty day moving average of $53.96 and a 200 day moving average of $47.35.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $147.80 million. During the same period in the prior year, the company posted $0.05 EPS. The firm'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. On average, analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRNS has been the subject of several research reports. Citigroup increased their price objective on shares of Varonis Systems from $51.00 to $58.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Needham & Company LLC increased their price target on shares of Varonis Systems from $60.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Wedbush increased their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada increased their price target on shares of Varonis Systems from $58.00 to $64.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, B. Riley began coverage on shares of Varonis Systems in a report on Tuesday, August 26th. They issued a "buy" rating and a $80.00 price target for the company. 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 presently has an average rating of "Moderate Buy" and a consensus price target of $60.47.

Insider Buying and Selling

In related news, CFO Guy Melamed sold 10,400 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $59.53, for a total value of $619,112.00. Following the completion of the sale, the chief financial officer owned 417,497 shares in the company, valued at approximately $24,853,596.41. The trade was a 2.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owned 128,666 shares of the company's stock, valued at $7,086,923.28. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,994 shares of company stock valued at $6,408,369 in the last quarter. 2.30% of the stock is owned by company insiders.

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.