Wellington Management Group LLP Raises Stake in Varonis Systems, Inc. $VRNS

Key Points

• Wellington Management Group LLP increased its holdings in Varonis Systems, acquiring an additional 17,052 shares, bringing its total to 357,609 shares worth approximately $14.47 million.
• Varonis Systems reported a 16.7% increase in revenue year-over-year, totaling $152.16 million for the last quarter, along with an earnings per share of $0.03 which surpassed analysts' expectations.
• Analyst ratings are positive, with fourteen analysts giving Varonis a Buy rating and a consensus price target of $60.47, reflecting confidence in the company’s growth potential.

Wellington Management Group LLP grew its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 357,609 shares of the technology company's stock after acquiring an additional 17,052 shares during the quarter. Wellington Management Group LLP owned about 0.32% of Varonis Systems worth $14,465,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VRNS. Deutsche Bank AG boosted its holdings in shares of Varonis Systems by 97.7% in the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after acquiring an additional 661,436 shares during the period. Two Sigma Advisers LP grew its position in 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 valued at $61,322,000 after buying an additional 541,000 shares during the last quarter. Nuveen LLC purchased a new position in Varonis Systems in the 1st quarter valued at $21,572,000. Penserra Capital Management LLC grew its position in Varonis Systems by 52.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after buying an additional 529,182 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Varonis Systems by 28.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock valued at $86,807,000 after buying an additional 431,306 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $0.14 during midday trading on Friday, hitting $59.02. 1,025,721 shares of the stock were exchanged, compared to its average volume of 1,433,694. The stock has a market cap of $6.61 billion, a P/E ratio of -64.15 and a beta of 0.71. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a 50 day moving average price of $53.96 and a 200-day moving average price of $47.29.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results 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. 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 during the quarter, compared to the consensus estimate of $147.80 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm's revenue for the quarter 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. On average, research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

VRNS has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Susquehanna lifted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Wednesday, July 30th. Cantor Fitzgerald restated an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research report on Tuesday, July 22nd. Citigroup boosted their target price 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. Finally, UBS Group boosted their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.47.

Insider Activity

In related news, CFO Guy Melamed sold 51,889 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Den Bosch Fred Van sold 6,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director directly owned 131,666 shares of the company's stock, valued at $6,583,300. The trade was a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,994 shares of company stock valued at $6,408,369 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

Varonis Systems 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.