Varonis Systems, Inc. $VRNS Shares Sold by Phoenix Financial Ltd.

Key Points

• Purple Financial Ltd. has reduced its stake in Varonis Systems by 2.6%, now holding 1,443,345 shares, which constitutes 1.0% of its portfolio.
• Research firms have been optimistic, with analysts increasing target prices for Varonis Systems shares, marking a consensus price target of $64.39.
• Insider trading activity has been noticeable with CFO Guy Melamed selling 51,889 shares at an average price of $55.10, indicating a 9.93% decrease in his ownership.

Phoenix Financial Ltd. cut its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,443,345 shares of the technology company's stock after selling 38,942 shares during the quarter. Varonis Systems makes up 1.0% of Phoenix Financial Ltd.'s investment portfolio, making the stock its 29th biggest holding. Phoenix Financial Ltd. owned about 1.29% of Varonis Systems worth $73,248,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its position 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 acquiring an additional 261 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Varonis Systems during the 1st quarter worth approximately $69,000. PNC Financial Services Group Inc. lifted its position 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 acquiring an additional 1,401 shares during the period. Caxton Associates LLP acquired a new stake in Varonis Systems during the 1st quarter worth approximately $200,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Varonis Systems during the 1st quarter worth approximately $233,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on VRNS. JPMorgan Chase & Co. increased their price objective on Varonis Systems from $61.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. B. Riley began coverage on Varonis Systems in a research note on Tuesday, August 26th. They set a "buy" rating and a $80.00 target price for the company. Barclays increased their target price on Varonis Systems from $62.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Robert W. Baird increased their target price on Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Susquehanna increased their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $64.39.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $62.23 on Tuesday. The business has a 50 day moving average price of $58.64 and a 200 day moving average price of $51.66. The company has a market capitalization of $6.97 billion, a P/E ratio of -67.64 and a beta of 0.64. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $63.90. 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 posted its 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. 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 for the quarter, compared to the consensus estimate of $147.80 million. During the same period in the previous year, the business earned $0.05 earnings per share. Varonis Systems's quarterly revenue was up 16.7% compared to the same quarter last year. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. Sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, CFO Guy Melamed sold 51,889 shares of the 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 sale, the chief financial officer directly owned 470,602 shares in the company, valued at $25,930,170.20. This represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following the transaction, the director directly owned 128,666 shares of the company's stock, valued at approximately $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 have sold a total of 113,386 shares of company stock valued at $6,429,405 over the last 90 days. 2.30% of the stock is currently owned by insiders.

About Varonis Systems

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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