Olympiad Research LP Buys New Shares in Varonis Systems, Inc. (NASDAQ:VRNS)

Olympiad Research LP purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,088 shares of the technology company’s stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Varonis Systems by 9.0% during the third 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 during the period. Hanseatic Management Services Inc. boosted its holdings in shares of Varonis Systems by 4.3% during the third quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after acquiring an additional 691 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Varonis Systems by 39.4% in the third 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. Farther Finance Advisors LLC raised its position in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in Varonis Systems during the third quarter valued at approximately $276,000. Institutional investors own 95.65% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman James O’boyle sold 50,000 shares of the 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 completion of the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Varonis Systems Stock Up 1.6 %

Shares of VRNS stock opened at $54.19 on Thursday. Varonis Systems, Inc. has a 12 month low of $34.66 and a 12 month high of $60.58. The stock has a market cap of $6.09 billion, a P/E ratio of -71.12 and a beta of 0.82. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $55.53 and a two-hundred day simple moving average of $50.27.

Varonis Systems (NASDAQ:VRNS – Get Free Report) last posted its quarterly 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 business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same period in the prior year, the business posted ($0.22) earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. On average, research analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

VRNS has been the subject of several research analyst reports. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Truist Financial reissued a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. UBS Group upped their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird increased their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Read Our Latest Research Report on Varonis Systems

About Varonis Systems

(Free Report)

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.

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