Woodline Partners LP Buys Shares of 213,282 Varonis Systems, Inc. $VRNS

Key Points

• Woodline Partners LP acquired 213,282 shares of Varonis Systems, Inc. valued at approximately $8.6 million, increasing their stake to about 0.19% of the company.
• Varonis Systems reported a 16.7% year-over-year revenue increase of $152.16 million in its latest quarterly earnings, along with an EPS of $0.03, exceeding analysts' expectations.
• Analysts are optimistic about Varonis Systems, with a consensus rating of "Moderate Buy" and a target price of around $61.65, following recent upgrades from multiple firms.

Woodline Partners LP bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 213,282 shares of the technology company's stock, valued at approximately $8,627,000. Woodline Partners LP owned approximately 0.19% of Varonis Systems at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its stake in Varonis Systems by 31.8% during the 1st quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after acquiring an additional 261 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Varonis Systems in the 1st quarter worth $69,000. NBC Securities Inc. raised 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 buying an additional 2,004 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Varonis Systems in the 4th quarter worth $163,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Varonis Systems by 45.2% in the 1st 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 in the last quarter. Institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $57.19 on Friday. 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 fifty-two week low of $36.53 and a fifty-two week high of $60.58. The stock's 50-day moving average is $55.13 and its two-hundred day moving average is $48.12. The firm has a market cap of $6.41 billion, a P/E ratio of -62.16 and a beta of 0.67.

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

Wall Street Analyst Weigh In

VRNS has been the topic of a number of recent analyst reports. Jefferies Financial Group raised 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 report on Thursday, July 24th. Barclays boosted their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Susquehanna boosted their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research report on Wednesday, July 30th. DA Davidson boosted their target price on Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $64.00 target price on shares of Varonis Systems in a research report on Wednesday, September 3rd. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.65.

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 1,500 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $59.59, for a total transaction of $89,385.00. Following the completion of the sale, the chief financial officer owned 412,105 shares in the company, valued at $24,557,336.95. This represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the firm'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 completion of the sale, the director owned 128,666 shares of the company's stock, valued at $7,086,923.28. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,386 shares of company stock valued at $6,429,405. 2.30% of the stock is owned by corporate insiders.

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.

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