Healthcare of Ontario Pension Plan Trust Fund Purchases New Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 80,000 shares of the technology company's stock, valued at approximately $3,838,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of Varonis Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Thrivent Financial for Lutherans boosted its holdings 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 during the period. William Blair Investment Management LLC grew its position in shares of Varonis Systems by 1.1% during the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock worth $106,396,000 after acquiring an additional 23,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Varonis Systems by 126.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company's stock valued at $90,336,000 after acquiring an additional 1,070,821 shares during the period. Finally, Principal Financial Group Inc. raised its position in Varonis Systems by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company's stock valued at $78,517,000 after purchasing an additional 133,109 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O'boyle sold 75,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on VRNS. Robert W. Baird raised Varonis Systems from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $52.00 to $60.00 in a report on Tuesday, July 30th. Truist Financial reaffirmed a "buy" rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Baird R W upgraded Varonis Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised Varonis Systems from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and an average target price of $56.33.

Varonis Systems Price Performance

Shares of VRNS stock traded up $0.89 during trading hours on Friday, hitting $56.48. The company's stock had a trading volume of 1,070,498 shares, compared to its average volume of 1,289,397. The business has a fifty day moving average of $54.67 and a 200-day moving average of $48.62. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of -60.09 and a beta of 0.82. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems, Inc. has a twelve month low of $29.60 and a twelve month high of $58.32.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.07. The firm had revenue of $130.35 million during the quarter, compared to analysts' expectations of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) EPS. As a group, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

About Varonis Systems

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.