Vident Advisory LLC Has $7.71 Million Stake in Varonis Systems, Inc. $VRNS

Key Points

• Vident Advisory LLC increased its holdings in Varonis Systems by 122.0%, acquiring an additional 104,765 shares during the first quarter, bringing its total ownership to 190,635 shares valued at approximately $7,711,000.
• Varonis Systems reported a 16.7% increase in revenue year-over-year, generating $152.16 million for the quarter, and exceeding EPS estimates by $0.02.
• Multiple research analysts have recently upgraded their target prices for Varonis Systems, with targets now ranging from $64.00 to $70.00, reflecting a positive outlook for the stock.

Vident Advisory LLC boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 122.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190,635 shares of the technology company's stock after purchasing an additional 104,765 shares during the period. Vident Advisory LLC owned about 0.17% of Varonis Systems worth $7,711,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Varonis Systems in the fourth quarter worth about $36,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Varonis Systems in the first quarter worth about $69,000. NBC Securities Inc. raised its stake in shares of Varonis Systems by 100,200.0% in the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after acquiring an additional 2,004 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Varonis Systems in the fourth quarter worth about $163,000. Finally, PNC Financial Services Group Inc. raised its stake 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 acquiring an additional 1,401 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

VRNS has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Jefferies Financial Group raised shares of Varonis Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $50.00 to $65.00 in a research note on Thursday, July 24th. Citigroup lifted their price target on shares of Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Robert W. Baird lifted their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $64.00 price target on shares of Varonis Systems in a research report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $61.65.

Varonis Systems Stock Performance

NASDAQ VRNS traded down $1.41 on Wednesday, hitting $55.43. 1,873,480 shares of the stock were exchanged, compared to its average volume of 1,552,627. 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 business's fifty day moving average is $54.28 and its 200 day moving average is $47.51. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The company has a market capitalization of $6.21 billion, a PE ratio of -60.25 and a beta of 0.67.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (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 analyst estimates of $147.80 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company'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. Research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction 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 in the company, valued at $25,930,170.20. The trade was 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 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 transaction of $165,240.00. Following the completion of the transaction, the director owned 128,666 shares in the company, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,386 shares of company stock worth $6,429,405. Corporate insiders own 2.30% of the company's stock.

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.