Allspring Global Investments Holdings LLC Acquires 100,324 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC raised its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 53.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 288,828 shares of the technology company’s stock after acquiring an additional 100,324 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Varonis Systems were worth $13,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VRNS. Mackenzie Financial Corp raised its holdings in shares of Varonis Systems by 5.6% during the first quarter. Mackenzie Financial Corp now owns 6,103 shares of the technology company’s stock worth $290,000 after acquiring an additional 325 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Varonis Systems by 4.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock valued at $260,000 after purchasing an additional 356 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Varonis Systems by 35.9% in the first quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after purchasing an additional 366 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Varonis Systems by 1.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 43,698 shares of the technology company’s stock worth $1,281,000 after buying an additional 803 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Varonis Systems by 0.7% during the first quarter. Rhumbline Advisers now owns 112,981 shares of the technology company’s stock worth $5,371,000 after buying an additional 811 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

Insider Buying and Selling

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now directly owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now directly owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dov Gottlieb sold 43,091 shares of Varonis Systems stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the sale, the vice president now directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 372,419 shares of company stock valued at $18,571,413. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Wells Fargo & Company boosted their price objective on shares of Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $63.00 target price on shares of Varonis Systems in a research report on Monday, February 5th. DA Davidson reissued a “neutral” rating and set a $45.00 price target (up from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Finally, Piper Sandler raised their price objective on Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.81.

Varonis Systems Price Performance

VRNS opened at $42.93 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. Varonis Systems, Inc. has a 12-month low of $22.34 and a 12-month high of $52.88. The business has a 50 day moving average of $48.53 and a 200-day moving average of $42.85.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The business had revenue of $154.10 million during the quarter, compared to the consensus estimate of $151.64 million. As a group, research analysts predict that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

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.