Varonis Systems, Inc. (NASDAQ:VRNS) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,783,873 shares of the technology company's stock after purchasing an additional 147,081 shares during the quarter. Principal Financial Group Inc. owned approximately 1.60% of Varonis Systems worth $100,789,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Varonis Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company's stock valued at $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock valued at $137,885,000 after buying an additional 127,129 shares in the last quarter. William Blair Investment Management LLC raised its stake in Varonis Systems by 1.1% in the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock valued at $106,396,000 after buying an additional 23,231 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in Varonis Systems by 40.8% during 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 buying an additional 466,688 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Varonis Systems by 40.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company's stock worth $38,361,000 after acquiring an additional 228,589 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Price Performance

Varonis Systems stock traded down $0.81 during midday trading on Friday, reaching $52.38. The company's stock had a trading volume of 1,300,680 shares, compared to its average volume of 1,345,363. The firm has a market capitalization of $5.89 billion, a PE ratio of -69.84 and a beta of 0.82. Varonis Systems, Inc. has a fifty-two week low of $34.95 and a fifty-two week high of $60.58. The stock's 50 day simple moving average is $55.38 and its 200 day simple moving average is $50.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm had revenue of $148.07 million during the quarter, compared to analysts' expectations of $141.62 million. During the same quarter last year, the business earned ($0.22) earnings per share. The business's revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VRNS shares. Baird R W raised Varonis Systems from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 30th. Robert W. Baird boosted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Needham & Company LLC restated a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Varonis Systems 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.