Northern Trust Corp Trims Stake in Varonis Systems, Inc. $VRNS

Key Points

• Northern Trust Corp reduced its position in Varonis Systems by 3.2%, retaining about 1,086,951 shares valued at approximately $43.97 million.
• Varonis Systems reported $0.03 earnings per share, exceeding analysts' expectations of $0.01, while its quarterly revenue grew by 16.7% year-over-year to $152.16 million.
• Research firms have set varying price targets for Varonis Systems, with most analysts giving it a rating of "Moderate Buy" and an average price target of around $60.47.

Northern Trust Corp trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,086,951 shares of the technology company's stock after selling 35,988 shares during the quarter. Northern Trust Corp owned about 0.97% of Varonis Systems worth $43,967,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in Varonis Systems by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock worth $86,807,000 after buying an additional 431,306 shares in the last quarter. 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 worth $64,904,000 after buying an additional 205,781 shares in the last quarter. 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 worth $62,376,000 after buying an additional 529,182 shares in the last quarter. Phoenix Financial Ltd. boosted its holdings in shares of Varonis Systems by 30.2% in the 1st quarter. Phoenix Financial Ltd. now owns 1,482,287 shares of the technology company's stock worth $59,964,000 after purchasing an additional 343,709 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Varonis Systems by 64.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company's stock worth $61,322,000 after purchasing an additional 541,000 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VRNS shares. Barclays upped their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company upgraded Varonis Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $51.00 to $70.00 in a report on Monday, August 11th. B. Riley started coverage on Varonis Systems in a report on Tuesday, August 26th. They issued a "buy" rating and a $80.00 price objective for the company. Wedbush upped their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Citigroup upped their price objective on Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.47.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded down $0.14 during midday trading on Friday, reaching $59.02. The company had a trading volume of 1,025,721 shares, compared to its average volume of 1,381,474. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32. The firm's fifty day moving average price is $53.96 and its 200-day moving average price is $47.35.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The company had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. During the same quarter in the previous year, the company posted $0.05 EPS. 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 analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director owned 131,666 shares of the company's stock, valued at $6,583,300. This represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 470,602 shares of the company's stock, valued at $25,930,170.20. The trade was a 9.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,994 shares of company stock valued at $6,408,369 in the last ninety days. 2.30% of the stock is currently owned by corporate 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.