Soros Fund Management LLC Makes New Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Soros Fund Management LLC purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 50,700 shares of the technology company's stock, valued at approximately $2,865,000.

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

Varonis Systems Price Performance

Shares of VRNS traded up $0.82 during mid-day trading on Friday, hitting $50.53. 557,772 shares of the company traded hands, compared to its average volume of 1,363,387. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The business has a 50-day moving average of $54.00 and a 200 day moving average of $51.16. 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 announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating 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 return on equity of 17.58% and a negative net margin of 15.31%. The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company earned ($0.22) EPS. As a group, analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Piper Sandler increased their price target on shares of 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. lifted their price objective on Varonis Systems from $59.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Finally, Barclays upped their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Five 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.67.

Insider Buying and Selling

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the 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 approximately $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman James O'boyle sold 50,000 shares of the 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 sale, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

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.