Quantbot Technologies LP Boosts Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Quantbot Technologies LP grew its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 61.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,671 shares of the technology company's stock after purchasing an additional 43,258 shares during the quarter. Quantbot Technologies LP owned approximately 0.10% of Varonis Systems worth $6,422,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of VRNS. Farther Finance Advisors LLC increased its position in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after acquiring an additional 423 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock worth $140,000 after purchasing an additional 2,442 shares during the period. KBC Group NV raised its position in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after buying an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems in the third quarter valued at about $184,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Varonis Systems during the second quarter worth about $215,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Price Performance

VRNS stock traded down $0.20 during trading on Tuesday, hitting $49.91. 1,545,419 shares of the company traded hands, compared to its average volume of 1,366,175. The company has a 50-day moving average of $54.91 and a 200-day moving average of $50.92. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 1 year low of $39.67 and a 1 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 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates 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 previous year, the business posted ($0.22) EPS. On average, analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VRNS shares. Baird R W upgraded shares of Varonis Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 30th. Truist Financial reiterated a "buy" rating and issued a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an "outperform" rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.67.

Insiders Place Their Bets

In other news, CFO Guy Melamed sold 91,345 shares of the firm'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 sale, the chief financial officer now owns 504,598 shares of the company's stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 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 position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

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.