Fred Alger Management LLC Raises Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Fred Alger Management LLC boosted its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 16.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,294 shares of the technology company's stock after purchasing an additional 10,255 shares during the quarter. Fred Alger Management LLC owned about 0.06% of Varonis Systems worth $4,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VRNS. Farther Finance Advisors LLC lifted its holdings in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after acquiring an additional 423 shares during the last quarter. International Assets Investment Management LLC raised its position in Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after purchasing an additional 2,442 shares in the last quarter. KBC Group NV lifted its stake in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company's stock worth $184,000 after purchasing an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems in the 3rd quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Varonis Systems during the second quarter valued at approximately $215,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VRNS shares. UBS Group upped their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Piper Sandler lifted their price objective on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Wedbush restated an "outperform" rating and set a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Robert W. Baird lifted their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price objective on Varonis Systems from $60.00 to $65.00 and gave the company 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.67.

Varonis Systems Stock Up 0.8 %

Shares of VRNS stock traded up $0.39 during midday trading on Friday, reaching $49.96. 892,144 shares of the stock were exchanged, compared to its average volume of 1,648,518. 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 firm has a market cap of $5.62 billion, a PE ratio of -66.61 and a beta of 0.82. The company's 50 day moving average is $54.52 and its two-hundred day moving average is $51.07.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company's revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share. On average, equities research analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Insider Buying and Selling

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a 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 on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by 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.