AMI Asset Management Corp Invests $485,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

AMI Asset Management Corp bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,584 shares of the technology company’s stock, valued at approximately $485,000.

A number of other institutional investors have also made changes to their positions in VRNS. Inspire Advisors LLC acquired a new position in shares of Varonis Systems during the first quarter worth approximately $716,000. Seven Eight Capital LP acquired a new stake in Varonis Systems in the first quarter worth about $706,000. Diversified Trust Co acquired a new position in Varonis Systems during the 2nd quarter valued at about $575,000. Swedbank AB acquired a new stake in shares of Varonis Systems during the 1st quarter worth approximately $3,344,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Varonis Systems by 562.0% in the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock valued at $928,000 after acquiring an additional 16,416 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Insider Activity

In related news, Vice Chairman James O’boyle sold 75,000 shares of Varonis Systems stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the completion of the transaction, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRNS. Robert W. Baird upped their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial reiterated a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Barclays raised their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Susquehanna upped their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.31.

Varonis Systems Stock Down 4.7 %

Shares of VRNS stock opened at $56.00 on Wednesday. The firm’s fifty day moving average price is $56.19 and its two-hundred day moving average price is $49.97. Varonis Systems, Inc. has a 1 year low of $31.56 and a 1 year high of $60.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $6.24 billion, a P/E ratio of -62.53 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The firm had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. During the same period last year, the company earned ($0.35) earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that Varonis Systems, Inc. will post -0.83 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.