EFG Asset Management North America Corp. Has $3.23 Million Position in Varonis Systems, Inc. $VRNS

Key Points

• EFG Asset Management North America Corp. reduced its stake in Varonis Systems, Inc. by 16.5%, now holding 80,007 shares worth approximately $3.23 million.
• Varonis Systems reported earnings per share (EPS) of $0.03 for the last quarter, exceeding expectations, with a year-over-year revenue increase of 16.7%.
• Analysts have issued predominantly positive ratings, with a consensus target price of $61.65, indicating substantial expected growth potential for the company's stock.

EFG Asset Management North America Corp. trimmed its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,007 shares of the technology company's stock after selling 15,762 shares during the quarter. EFG Asset Management North America Corp. owned about 0.07% of Varonis Systems worth $3,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quarry LP grew its stake in shares of Varonis Systems by 31.8% in 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Varonis Systems in the 1st quarter worth approximately $69,000. NBC Securities Inc. grew its stake in shares of Varonis Systems by 100,200.0% in 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 during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $163,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Varonis Systems by 45.2% in the first quarter. PNC Financial Services Group Inc. now owns 4,502 shares of the technology company's stock worth $182,000 after buying an additional 1,401 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Insider Activity at Varonis Systems

In other news, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems 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 transaction, the director owned 128,666 shares of the company's stock, valued at $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Guy Melamed sold 51,889 shares of Varonis Systems stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares in the company, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,386 shares of company stock worth $6,429,405. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Wedbush reiterated an "outperform" rating and issued a $65.00 target price on shares of Varonis Systems in a report on Wednesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 target price on shares of Varonis Systems in a report on Tuesday, July 22nd. Robert W. Baird raised their target price on shares of Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $64.00 price target on shares of Varonis Systems in a report on Wednesday. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.65.

Varonis Systems Stock Up 0.5%

VRNS traded up $0.30 during midday trading on Friday, hitting $56.03. 952,768 shares of the company's stock traded hands, compared to its average volume of 1,391,624. The company has a market cap of $6.28 billion, a PE ratio of -60.90 and a beta of 0.67. The stock's fifty day simple moving average is $54.60 and its 200-day simple moving average is $47.76. 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, Inc. has a one year low of $36.53 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm 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. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal 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.