Assetmark Inc. Raises Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Assetmark Inc. boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 31.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,814 shares of the technology company’s stock after buying an additional 1,375 shares during the quarter. Assetmark Inc.’s holdings in Varonis Systems were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Varonis Systems by 5,550.0% during the third 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 in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Varonis Systems in the second quarter valued at approximately $215,000. O Neil Global Advisors Inc. grew its holdings in shares of Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Varonis Systems during the 2nd quarter worth approximately $260,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Price Performance

Shares of VRNS opened at $51.08 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems, Inc. has a 1-year low of $36.87 and a 1-year high of $60.58. The stock has a market cap of $5.74 billion, a PE ratio of -68.11 and a beta of 0.82. The firm has a fifty day moving average price of $55.20 and a 200 day moving average price of $50.60.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to analysts’ expectations 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 revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) EPS. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on VRNS shares. Barclays raised their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Robert W. Baird boosted 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. Finally, Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Insider Transactions at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.