Barclays PLC Acquires 35,274 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Barclays PLC boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 389,522 shares of the technology company’s stock after acquiring an additional 35,274 shares during the period. Barclays PLC owned 0.35% of Varonis Systems worth $22,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares during the period. International Assets Investment Management LLC grew its holdings in 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 buying an additional 2,442 shares in the last quarter. KBC Group NV increased its position in 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 buying an additional 663 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Varonis Systems during the third quarter worth $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the second quarter valued at about $215,000. Institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

VRNS has been the topic of a number of recent research reports. Piper Sandler raised 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. Barclays raised their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. UBS Group lifted their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Five equities 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.80.

Varonis Systems Price Performance

VRNS stock opened at $47.10 on Friday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of -62.80 and a beta of 0.80. 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 company has a 50 day simple moving average of $53.11 and a 200 day simple moving average of $51.36. Varonis Systems, Inc. has a 1 year low of $41.13 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted 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 analysts’ expectations of $141.62 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. Research analysts anticipate that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction 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 transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the 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 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 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.