Principal Financial Group Inc. Has $100.79 Million Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Principal Financial Group Inc. increased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 1.59% of Varonis Systems worth $100,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after acquiring an additional 2,442 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Varonis Systems in the third quarter valued at about $184,000. KBC Group NV increased its position in Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company's stock worth $184,000 after purchasing an additional 663 shares during the period. Finally, Atom Investors LP acquired a new stake in Varonis Systems in the third quarter worth about $224,000. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Stock Up 0.6 %

NASDAQ VRNS traded up $0.25 during trading hours on Friday, reaching $45.30. 2,883,149 shares of the company's stock were exchanged, compared to its average volume of 1,377,077. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of -60.40 and a beta of 0.80. The company's 50-day moving average is $51.95 and its two-hundred day moving average is $51.48. Varonis Systems, Inc. has a one year low of $41.13 and a one year high of $60.58.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on VRNS. DA Davidson cut their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. UBS Group increased their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Piper Sandler lifted their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an "outperform" rating and issued a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted 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. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.19.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares of the company's stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction on Wednesday, November 13th. The stock was 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 in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

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.