Geode Capital Management LLC Grows Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Geode Capital Management LLC increased its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,615,462 shares of the technology company's stock after purchasing an additional 29,050 shares during the period. Geode Capital Management LLC owned approximately 2.33% of Varonis Systems worth $147,801,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRNS. Farther Finance Advisors LLC boosted its stake in Varonis Systems by 445.3% in the third 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 in the last quarter. International Assets Investment Management LLC boosted its stake 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 valued at $140,000 after purchasing an additional 2,442 shares in the last quarter. 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 valued at $184,000 after purchasing an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Varonis Systems during the 3rd quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Varonis Systems in the 2nd quarter valued at approximately $215,000. Institutional investors and hedge funds own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Piper Sandler boosted 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. Wedbush reaffirmed an "outperform" rating and set a $67.00 price target on shares of Varonis Systems in a research note on Monday, August 26th. Barclays boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, DA Davidson lowered their target price on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Varonis Systems currently has an average rating of "Moderate Buy" and an average price target of $59.80.

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman James O'boyle sold 50,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now owns 444,114 shares of the company's stock, valued at approximately $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. 2.60% of the stock is owned by insiders.

Varonis Systems Stock Down 1.2 %

VRNS traded down $0.58 on Tuesday, hitting $47.20. The company had a trading volume of 1,075,009 shares, compared to its average volume of 1,367,094. The stock has a fifty day simple moving average of $52.96 and a 200-day simple moving average of $51.44. 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 firm has a market capitalization of $5.31 billion, a P/E ratio of -63.71 and a beta of 0.80. Varonis Systems, Inc. has a 52-week low of $41.13 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping 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 firm had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. During the same period in the prior year, the firm earned ($0.22) EPS. The company's revenue was up 21.1% compared to the same quarter last year. As a group, equities analysts expect that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

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.