Thematics Asset Management Buys 152,000 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Thematics Asset Management raised its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 40.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 530,000 shares of the technology company’s stock after purchasing an additional 152,000 shares during the quarter. Varonis Systems accounts for about 1.2% of Thematics Asset Management’s investment portfolio, making the stock its 24th largest position. Thematics Asset Management’s holdings in Varonis Systems were worth $29,945,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Varonis Systems by 5,550.0% during the 3rd 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. Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems during the third quarter valued at about $184,000. KBC Group NV increased its holdings in shares of Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems in the second quarter worth about $215,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction 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 directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Varonis Systems Stock Down 0.5 %

NASDAQ:VRNS traded down $0.26 during mid-day trading on Tuesday, reaching $49.85. The company’s stock had a trading volume of 116,774 shares, compared to its average volume of 1,359,533. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 1 year low of $39.67 and a 1 year high of $60.58. The stock has a fifty day moving average of $54.91 and a 200-day moving average of $50.92. The firm has a market capitalization of $5.61 billion, a PE ratio of -66.81 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. Varonis Systems’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted ($0.22) earnings per share. Equities research analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on VRNS shares. Truist Financial reaffirmed a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Piper Sandler increased their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Susquehanna lifted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and an average price target of $59.67.

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.