Varonis Systems, Inc. $VRNS Shares Purchased by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC increased its holdings in Varonis Systems by 5% during Q2 2023, owning approximately 0.84% of the company valued at nearly $48 million.
• Several analysts have raised their price targets for Varonis Systems to around $65.00, with a consensus rating of "Moderate Buy" from analysts.
• Insider trading revealed CFO Guy Melamed sold 1,500 shares valued at approximately $89,385, indicating a reduction in his stake, as insiders sold a total of 113,386 shares over the last quarter.

William Blair Investment Management LLC boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 943,002 shares of the technology company's stock after buying an additional 44,505 shares during the quarter. William Blair Investment Management LLC owned approximately 0.84% of Varonis Systems worth $47,857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new stake in Varonis Systems during the first quarter valued at $346,000. Mirae Asset Global Investments Co. Ltd. grew its position in Varonis Systems by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company's stock valued at $352,000 after buying an additional 1,323 shares during the period. Stephens Investment Management Group LLC grew its position in Varonis Systems by 14.7% during the first quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock valued at $64,904,000 after buying an additional 205,781 shares during the period. Penserra Capital Management LLC grew its position in Varonis Systems by 52.2% during the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after buying an additional 529,182 shares during the period. Finally, Legacy Advisors LLC grew its position in Varonis Systems by 164.5% during the first quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company's stock valued at $853,000 after buying an additional 13,115 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Susquehanna increased their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a report on Wednesday, July 30th. Wedbush reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, September 3rd. Jefferies Financial Group raised shares of Varonis Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $50.00 to $65.00 in a report on Thursday, July 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Varonis Systems in a report on Wednesday, October 8th. Finally, B. Riley assumed coverage on shares of Varonis Systems in a report on Tuesday, August 26th. They set a "buy" rating and a $80.00 price objective on the stock. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.39.

Insiders Place Their Bets

In other Varonis Systems news, CFO Guy Melamed sold 1,500 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $59.59, for a total value of $89,385.00. Following the sale, the chief financial officer directly owned 412,105 shares in the company, valued at $24,557,336.95. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Den Bosch Fred Van sold 3,000 shares of the company's stock in a transaction 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 in the company, valued at $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 Stock Up 0.1%

VRNS opened at $60.38 on Friday. The business has a 50 day moving average price of $58.48 and a 200 day moving average price of $51.42. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $63.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $6.77 billion, a P/E ratio of -65.63 and a beta of 0.64.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. Research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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.

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