PDT Partners LLC Takes $2.29 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

PDT Partners LLC bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,607 shares of the technology company's stock, valued at approximately $2,294,000.

Other large investors have also recently modified their holdings of the company. WCM Investment Management LLC bought a new position in Varonis Systems in the 3rd quarter valued at $17,419,000. Squarepoint Ops LLC grew its position in Varonis Systems by 167.9% in the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock valued at $21,755,000 after acquiring an additional 284,236 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Varonis Systems by 40.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company's stock valued at $38,361,000 after acquiring an additional 228,589 shares during the last quarter. Thematics Asset Management grew its position in Varonis Systems by 40.2% in the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company's stock valued at $29,945,000 after acquiring an additional 152,000 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the company's stock in a transaction 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 completion of the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 504,598 shares of the company's stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Varonis Systems Trading Up 0.8 %

Shares of VRNS stock traded up $0.39 during trading on Friday, hitting $49.96. 892,144 shares of the stock traded hands, compared to its average volume of 1,648,518. The firm has a market capitalization of $5.62 billion, a P/E ratio of -66.61 and a beta of 0.82. 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 firm's fifty day moving average price is $54.52 and its 200-day moving average price is $51.07. Varonis Systems, Inc. has a 52-week low of $40.48 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results 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 company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.22) earnings per share. As a group, research analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VRNS shares. Barclays upped their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Wedbush reiterated an "outperform" rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Royal Bank of Canada restated an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. UBS Group upped their price objective on Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.67.

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.