31,460 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Acquired by Oak Ridge Investments LLC

Oak Ridge Investments LLC acquired a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,460 shares of the technology company's stock, valued at approximately $1,398,000.

Several other institutional investors have also made changes to their positions in VRNS. Renaissance Technologies LLC lifted its stake in Varonis Systems by 21.7% during the second quarter. Renaissance Technologies LLC now owns 197,100 shares of the technology company's stock worth $9,455,000 after purchasing an additional 35,200 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Varonis Systems in the 2nd quarter worth approximately $215,000. Hsbc Holdings PLC lifted its position in shares of Varonis Systems by 127.4% during the 2nd quarter. Hsbc Holdings PLC now owns 56,409 shares of the technology company's stock worth $2,673,000 after buying an additional 31,600 shares during the period. Seven Eight Capital LP boosted its stake in Varonis Systems by 5.5% in the 2nd quarter. Seven Eight Capital LP now owns 15,781 shares of the technology company's stock valued at $757,000 after buying an additional 820 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Varonis Systems in the second quarter valued at $390,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler cut their price objective on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Barclays lifted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and a consensus target price of $59.44.

Insider Buying and Selling

In related news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares of the company's stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Varonis Systems Trading Down 3.7 %

Shares of NASDAQ VRNS traded down $1.69 during mid-day trading on Friday, hitting $44.19. The company's stock had a trading volume of 2,419,146 shares, compared to its average volume of 1,048,088. Varonis Systems, Inc. has a one year low of $41.13 and a one year high of $60.58. The company's fifty day simple moving average is $47.57 and its 200-day simple moving average is $51.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -58.92 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analysts' expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the firm earned ($0.22) earnings per share. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.7 earnings per share for the current fiscal 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.