Whitebox Advisors LLC Buys Shares of 35,500 Varonis Systems, Inc. (NASDAQ:VRNS)

Whitebox Advisors LLC acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 35,500 shares of the technology company's stock, valued at approximately $2,006,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its position in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after purchasing an additional 423 shares during the period. International Assets Investment Management LLC lifted its stake 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 last quarter. KBC Group NV boosted its position in 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 purchasing an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems during the third quarter valued at about $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the 2nd quarter valued at about $215,000. Institutional investors own 95.65% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Barclays upped their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Robert W. Baird raised their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. UBS Group boosted their target price on Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler increased their price target on Varonis Systems from $48.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.67.

Varonis Systems Stock Performance

VRNS traded up $0.10 during midday trading on Friday, hitting $49.81. 1,510,946 shares of the company were exchanged, compared to its average volume of 1,537,194. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -66.41 and a beta of 0.80. The company's 50 day simple moving average is $53.87 and its 200 day simple moving average is $51.20. 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 $41.13 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same period last year, the company earned ($0.22) earnings per share. Varonis Systems's revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Activity

In related news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on 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 trade represents a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman James O'boyle sold 50,000 shares of the business's 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 directly owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. 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.