Creative Planning Grows Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Creative Planning lifted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 66.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,265 shares of the technology company's stock after purchasing an additional 9,681 shares during the quarter. Creative Planning's holdings in Varonis Systems were worth $1,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 in the last quarter. Hood River Capital Management LLC boosted its holdings in Varonis Systems by 40.8% in the first quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock worth $76,032,000 after acquiring an additional 466,688 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Varonis Systems in the first quarter worth $19,194,000. Squarepoint Ops LLC raised its stake in shares of Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock worth $21,755,000 after purchasing an additional 284,236 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake 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 purchasing an additional 228,589 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded down $2.11 during mid-day trading on Thursday, reaching $50.37. The company's stock had a trading volume of 3,117,279 shares, compared to its average volume of 1,332,400. The firm has a market capitalization of $5.62 billion, a PE ratio of -53.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a fifty day moving average of $56.10 and a two-hundred day moving average of $49.99. Varonis Systems, Inc. has a 52 week low of $31.56 and a 52 week high of $60.58.

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

Insider Activity at Varonis Systems

In other news, Vice Chairman James O'boyle sold 75,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 494,114 shares of the company's stock, valued at $25,219,578.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRNS. Robert W. Baird boosted 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. TD Cowen boosted their price target on Varonis Systems from $54.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday. Wells Fargo & Company upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 30th. Finally, Wedbush reiterated an "outperform" rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $58.75.

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.