EFG Asset Management North America Corp. Trims 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. lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 0.07% of Varonis Systems worth $3,234,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VRNS. RGM Capital LLC increased its position in Varonis Systems by 45.5% during the first quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock worth $109,479,000 after acquiring an additional 846,475 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Varonis Systems during the 1st quarter valued at $28,871,000. Deutsche Bank AG boosted its holdings in Varonis Systems by 97.7% during the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock worth $59,467,000 after acquiring an additional 661,436 shares during the last quarter. 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 buying an additional 541,000 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Varonis Systems during the first quarter valued at about $21,572,000. 95.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Varonis Systems news, 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction on Friday, August 1st. The stock was 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 owned 470,602 shares of the company's stock, valued at $25,930,170.20. This trade represents a 9.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,386 shares of company stock valued at $6,429,405 in the last three months. 2.30% of the stock is owned by insiders.

Varonis Systems Stock Performance

VRNS stock traded down $0.09 on Tuesday, reaching $57.48. The company's stock had a trading volume of 426,204 shares, compared to its average volume of 1,547,242. The firm has a fifty day moving average of $54.74 and a two-hundred day moving average of $47.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $6.44 billion, a P/E ratio of -62.48 and a beta of 0.67. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58.

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 the consensus estimate 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 firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. During the same period in the prior year, the business posted $0.05 earnings per share. The business's quarterly revenue 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. As a group, analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VRNS shares. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Tuesday, July 22nd. Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Varonis Systems in a research report on Wednesday, September 3rd. Morgan Stanley upped their price objective on Varonis Systems from $59.00 to $66.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Jefferies Financial Group raised 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. Finally, Robert W. Baird raised their target price on Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Varonis Systems presently has an average rating of "Moderate Buy" and an average target price of $61.65.

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.