Los Angeles Capital Management LLC Invests $1.05 Million in Varonis Systems, Inc. (NASDAQ:VRNS)

Los Angeles Capital Management LLC purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 18,487 shares of the technology company's stock, valued at approximately $1,045,000.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company's stock worth $530,978,000 after purchasing an additional 155,040 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock worth $137,885,000 after buying an additional 127,129 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock worth $106,396,000 after buying an additional 23,231 shares during the period. Principal Financial Group Inc. increased its stake in shares of Varonis Systems by 9.0% in the 3rd 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. Finally, Hood River Capital Management LLC lifted its position in shares of Varonis Systems by 40.8% during the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock valued at $76,032,000 after acquiring an additional 466,688 shares during the period. 95.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Varonis Systems

In related news, Vice Chairman James O'boyle sold 50,000 shares of the 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 sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company's stock.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded down $1.23 during mid-day trading on Friday, reaching $51.00. The company had a trading volume of 769,528 shares, compared to its average volume of 1,346,499. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of -69.64 and a beta of 0.82. Varonis Systems, Inc. has a one year low of $36.87 and a one year high of $60.58. The company's 50-day moving average price is $55.20 and its 200-day moving average price is $50.55.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company had revenue of $148.07 million for the quarter, compared to analysts' expectations of $141.62 million. During the same period in the prior year, the company posted ($0.22) EPS. Varonis Systems's revenue was up 21.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VRNS shares. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Monday, August 26th. Truist Financial reiterated a "buy" rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 30th. Susquehanna lifted their price target on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Tuesday, July 30th. Finally, Barclays increased their price target on Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.67.

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.