Qsemble Capital Management LP Purchases Shares of 20,471 Varonis Systems, Inc. (NASDAQ:VRNS)

Qsemble Capital Management LP acquired a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,471 shares of the technology company's stock, valued at approximately $1,157,000.

Several other large investors have also modified their holdings of VRNS. WCM Investment Management LLC bought a new position in Varonis Systems in the 3rd quarter worth approximately $17,419,000. Squarepoint Ops LLC increased its position in Varonis Systems by 167.9% during the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock worth $21,755,000 after acquiring an additional 284,236 shares during the period. The Manufacturers Life Insurance Company raised its stake in 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 valued at $38,361,000 after purchasing an additional 228,589 shares during the last quarter. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 147,081 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock worth $137,885,000 after purchasing an additional 127,129 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VRNS has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Varonis Systems from $59.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Needham & Company LLC restated a "hold" rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.67.

Varonis Systems Stock Performance

Shares of VRNS opened at $49.91 on Wednesday. The stock's fifty day simple moving average is $54.83 and its 200-day simple moving average is $50.96. Varonis Systems, Inc. has a 12-month low of $39.67 and a 12-month high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (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 company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same quarter last year, the firm earned ($0.22) EPS. The company's revenue for the quarter was up 21.1% on a year-over-year basis. Research analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value 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. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Varonis Systems 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.

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