Charles Schwab Investment Management Inc. grew its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 962,923 shares of the technology company's stock after acquiring an additional 59,218 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.86% of Varonis Systems worth $54,405,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in shares of Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock valued at $137,885,000 after acquiring an additional 127,129 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Varonis Systems by 1.1% in the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock valued at $106,396,000 after acquiring an additional 23,231 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after acquiring an additional 147,081 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company's stock valued at $38,361,000 after acquiring an additional 228,589 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Varonis Systems by 0.9% in the second quarter. Victory Capital Management Inc. now owns 773,353 shares of the technology company's stock valued at $37,098,000 after acquiring an additional 6,719 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Varonis Systems from $59.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Robert W. Baird increased their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Piper Sandler increased their target price on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Barclays increased their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average price target of $59.67.
View Our Latest Analysis on VRNS
VRNS stock opened at $49.96 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 1 year low of $40.48 and a 1 year high of $60.58. The stock has a 50-day simple moving average of $54.52 and a 200-day simple moving average of $51.03.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The company's revenue for the quarter was up 21.1% compared to the same quarter last year. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.73 EPS for the current year.
In other news, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman James O'boyle sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company's stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
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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