Inspire Investing LLC Acquires 13,580 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Inspire Investing LLC boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 185.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,884 shares of the technology company’s stock after purchasing an additional 13,580 shares during the period. Inspire Investing LLC’s holdings in Varonis Systems were worth $928,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares during the period. International Assets Investment Management LLC lifted its stake in Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,442 shares during the last quarter. KBC Group NV grew its holdings in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Varonis Systems in 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 $215,000. Institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VRNS shares. Needham & Company LLC reiterated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research note on Monday, January 6th. DA Davidson reduced their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. UBS Group boosted 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. Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Robert W. Baird increased their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.44.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $44.28 on Friday. 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 business has a 50-day moving average of $47.10 and a 200-day moving average of $51.53. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.22) EPS. As a group, sell-side analysts expect that Varonis Systems, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction that occurred on 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 owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Varonis Systems Company Profile

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.