Stephens Investment Management Group LLC Decreases Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Stephens Investment Management Group LLC lowered its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,404,843 shares of the technology company's stock after selling 63,859 shares during the period. Varonis Systems comprises about 1.1% of Stephens Investment Management Group LLC's portfolio, making the stock its 28th biggest holding. Stephens Investment Management Group LLC owned about 1.26% of Varonis Systems worth $79,374,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. AMI Asset Management Corp acquired a new position in shares of Varonis Systems during the 3rd quarter worth $485,000. Semanteon Capital Management LP acquired a new position in shares of Varonis Systems during the 3rd quarter worth $1,121,000. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock worth $140,000 after buying an additional 2,442 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Varonis Systems by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company's stock worth $19,802,000 after acquiring an additional 44,826 shares during the last quarter. Finally, Compass Wealth Management LLC increased its holdings in Varonis Systems by 26.6% in the 3rd quarter. Compass Wealth Management LLC now owns 75,693 shares of the technology company's stock worth $4,277,000 after purchasing an additional 15,900 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O'boyle sold 75,000 shares of the 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 transaction, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Varonis Systems Trading Up 1.7 %

NASDAQ VRNS traded up $0.86 during trading hours on Friday, hitting $51.23. 3,431,554 shares of the company's stock were exchanged, compared to its average volume of 1,342,302. The stock has a 50-day simple moving average of $55.98 and a 200 day simple moving average of $49.99. Varonis Systems, Inc. has a 1-year low of $32.26 and a 1-year high of $60.58. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of -69.23 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 (NASDAQ:VRNS - Get Free Report) last released its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. The business 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 17.22% and a negative net margin of 15.31%. The firm's revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. On average, equities analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Piper Sandler upped their target price on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday. Susquehanna upped their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Tuesday, July 30th. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $58.75.

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.