Oak Ridge Investments LLC Makes New Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Oak Ridge Investments LLC purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,460 shares of the technology company’s stock, valued at approximately $1,398,000.

A number of other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after purchasing an additional 127,129 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Varonis Systems by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock valued at $147,801,000 after buying an additional 29,050 shares during the period. Principal Financial Group Inc. lifted its holdings in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Varonis Systems by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock worth $54,405,000 after acquiring an additional 59,218 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 3.7 %

Varonis Systems stock opened at $44.19 on Friday. The stock has a market cap of $4.97 billion, a PE ratio of -58.92 and a beta of 0.83. 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 stock’s fifty day moving average is $47.57 and its two-hundred day moving average is $51.60. 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 the consensus estimate 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 firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.22) earnings per share. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity

In other news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VRNS shares. Barclays increased their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Citigroup dropped their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday. Piper Sandler decreased their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, January 6th. Finally, UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.44.

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.