Qsemble Capital Management LP Makes New Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Qsemble Capital Management LP purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 20,471 shares of the technology company’s stock, valued at approximately $1,157,000.

A number of other large investors have also bought and sold shares of VRNS. EFG Asset Management North America Corp. lifted its stake in Varonis Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after buying an additional 216 shares in the last quarter. O Neil Global Advisors Inc. boosted its stake in Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares during the period. Hanseatic Management Services Inc. increased its holdings in Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after purchasing an additional 275 shares in the last quarter. Xponance Inc. raised its stake in shares of Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after purchasing an additional 367 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of Varonis Systems by 3.5% in the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on VRNS. Wells Fargo & Company increased their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Truist Financial reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Piper Sandler increased their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $49.91 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 12 month low of $39.67 and a 12 month high of $60.58. The stock has a 50 day moving average of $54.83 and a 200-day moving average of $50.96.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) earnings per share. On average, equities analysts expect that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Company 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.