Los Angeles Capital Management LLC Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Los Angeles Capital Management LLC acquired a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,487 shares of the technology company’s stock, valued at approximately $1,045,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. Assetmark Inc. increased its stake in shares of Varonis Systems by 31.0% in the 3rd quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock worth $328,000 after acquiring an additional 1,375 shares in the last quarter. Olympiad Research LP bought a new position in shares of Varonis Systems during the third quarter valued at approximately $457,000. Principal Financial Group Inc. boosted its position in shares of 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 worth $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Hanseatic Management Services Inc. grew its stake in shares of Varonis Systems by 4.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after buying an additional 691 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Varonis Systems by 39.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 26,964 shares of the technology company’s stock valued at $1,523,000 after buying an additional 7,627 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VRNS. Piper Sandler raised their price target on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Monday, August 26th. JPMorgan Chase & Co. boosted their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, TD Cowen lifted their target price on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and an average price target of $59.67.

Insider Activity

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Varonis Systems Stock Down 1.8 %

Shares of VRNS stock opened at $52.23 on Friday. 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 12 month low of $36.87 and a 12 month high of $60.58. The stock has a market cap of $5.87 billion, a P/E ratio of -70.36 and a beta of 0.82. The company has a 50 day simple moving average of $55.20 and a two-hundred day simple moving average of $50.55.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. During the same period last year, the firm earned ($0.22) EPS. Varonis Systems’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, research analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Varonis Systems Company 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.