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

Principal Financial Group Inc. grew its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,783,873 shares of the technology company's stock after acquiring 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.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock valued at $137,885,000 after purchasing an additional 127,129 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Varonis Systems by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock valued at $147,801,000 after acquiring an additional 29,050 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Varonis Systems by 1.1% during the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock worth $106,396,000 after acquiring an additional 23,231 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Varonis Systems by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company's stock worth $54,405,000 after acquiring an additional 59,218 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company's stock valued at $47,415,000 after purchasing an additional 267,000 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

VRNS has been the topic of several analyst reports. UBS Group lifted their price objective on Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wedbush reaffirmed an "outperform" rating and set a $67.00 price target on shares of Varonis Systems in a research report on Monday, August 26th. Barclays lifted their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Piper Sandler increased 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. Finally, DA Davidson lowered their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.19.

Insider Buying and Selling at Varonis Systems

In related news, Vice Chairman James O'boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares of the company's stock, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded up $0.25 during trading on Friday, hitting $45.30. The company had a trading volume of 2,883,149 shares, compared to its average volume of 1,377,077. Varonis Systems, Inc. has a 52 week low of $41.13 and a 52 week high of $60.58. The business's 50-day moving average is $51.95 and its 200 day moving average is $51.41. The company has a market cap of $5.09 billion, a P/E ratio of -60.40 and a beta of 0.80. 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 released its quarterly 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. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same quarter in the previous year, the business earned ($0.22) earnings per share. The firm's revenue was up 21.1% compared to the same quarter last year. Equities research analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

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.