Allspring Global Investments Holdings LLC Buys 44,826 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 14.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 350,470 shares of the technology company's stock after acquiring an additional 44,826 shares during the period. Allspring Global Investments Holdings LLC owned 0.31% of Varonis Systems worth $19,802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Varonis Systems by 126.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company's stock worth $90,336,000 after acquiring an additional 1,070,821 shares during the period. Hood River Capital Management LLC boosted its stake in Varonis Systems by 40.8% in the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock worth $76,032,000 after purchasing an additional 466,688 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in Varonis Systems during the 1st quarter valued at about $19,194,000. Squarepoint Ops LLC increased its position in shares of Varonis Systems by 167.9% during the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock valued at $21,755,000 after buying an additional 284,236 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings 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 worth $38,361,000 after buying an additional 228,589 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Truist Financial reiterated a "buy" rating and set a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. TD Cowen increased their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Susquehanna lifted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price on Varonis Systems from $45.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.63.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O'boyle sold 50,000 shares of the firm'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 sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Varonis Systems Stock Up 1.0 %

Shares of NASDAQ VRNS traded up $0.55 on Friday, reaching $56.86. 1,140,291 shares of the company's stock traded hands, compared to its average volume of 1,292,580. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The business's 50 day simple moving average is $56.11 and its two-hundred day simple moving average is $49.74. Varonis Systems, Inc. has a 12 month low of $30.89 and a 12 month high of $60.58. The company has a market cap of $6.34 billion, a price-to-earnings ratio of -60.49 and a beta of 0.82.

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

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.