Varonis Systems, Inc. $VRNS Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Varonis Systems by 98.6% in Q1, now owning approximately 2.32 million shares valued at around $93.9 million.
• Varonis Systems reported Q2 earnings of $0.03 per share, surpassing expectations, and saw a 16.7% revenue growth compared to the previous year.
• Analysts have set a consensus price target of $61.65 for Varonis Systems, with many upgrading their ratings on the stock to "Buy."

Voya Investment Management LLC increased its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 98.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,321,317 shares of the technology company's stock after acquiring an additional 1,152,687 shares during the period. Voya Investment Management LLC owned about 2.07% of Varonis Systems worth $93,897,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Varonis Systems by 5.7% in the first quarter. Rhumbline Advisers now owns 173,984 shares of the technology company's stock worth $7,038,000 after acquiring an additional 9,404 shares during the period. Strs Ohio purchased a new stake in shares of Varonis Systems in the first quarter worth approximately $380,000. Intech Investment Management LLC raised its holdings in shares of Varonis Systems by 24.3% in the first quarter. Intech Investment Management LLC now owns 59,923 shares of the technology company's stock worth $2,424,000 after buying an additional 11,715 shares during the period. Focus Partners Wealth purchased a new position in Varonis Systems during the 1st quarter worth $3,973,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Varonis Systems by 11.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company's stock worth $25,049,000 after purchasing an additional 64,636 shares during the period. Institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded down $0.01 on Monday, hitting $56.19. 1,245,872 shares of the company were exchanged, compared to its average volume of 1,241,406. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -61.08 and a beta of 0.67. The company has a 50-day moving average price of $55.33 and a 200 day moving average price of $48.38. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. 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, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Den Bosch Fred Van sold 3,000 shares of the company'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 value of $165,240.00. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the chief financial officer 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 disclosure for this sale can be found here. Insiders sold 113,386 shares of company stock worth $6,429,405 over the last quarter. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VRNS shares. Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Varonis Systems in a research report on Wednesday, September 3rd. Robert W. Baird lifted their price target on Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised Varonis Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $51.00 to $70.00 in a research report on Monday, August 11th. Barclays lifted their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, B. Riley started coverage on Varonis Systems in a research note on Tuesday, August 26th. They issued a "buy" rating and a $80.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.