Varonis Systems, Inc. $VRNS Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 45.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,502 shares of the technology company’s stock after purchasing an additional 1,401 shares during the period. PNC Financial Services Group Inc.’s holdings in Varonis Systems were worth $182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mutual of America Capital Management LLC lifted its position in shares of Varonis Systems by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company’s stock valued at $3,449,000 after acquiring an additional 284 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after acquiring an additional 298 shares in the last quarter. Teza Capital Management LLC lifted its position in shares of Varonis Systems by 3.1% in the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock valued at $437,000 after acquiring an additional 299 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Varonis Systems by 6.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,423 shares of the technology company’s stock valued at $300,000 after acquiring an additional 469 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Varonis Systems by 6.2% in the 1st quarter. Xponance Inc. now owns 8,369 shares of the technology company’s stock valued at $339,000 after acquiring an additional 486 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Shares of VRNS opened at $58.41 on Monday. The company’s fifty day moving average is $52.21 and its 200-day moving average is $46.30. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of -63.49 and a beta of 0.71. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. Varonis Systems’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. Equities analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VRNS. JPMorgan Chase & Co. reduced their price target on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Susquehanna upped their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada upped their price objective on shares of Varonis Systems from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Finally, Wedbush upped their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Insider Buying and Selling at Varonis Systems

In related news, Director Den Bosch Fred Van sold 3,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the sale, the director directly owned 128,666 shares of the company’s stock, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 42,705 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $57.72, for a total transaction of $2,464,932.60. Following the sale, the chief financial officer directly owned 427,897 shares of the company’s stock, valued at approximately $24,698,214.84. This represents a 9.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,594 shares of company stock valued at $5,789,257. 2.30% of the stock is owned by insiders.

Varonis Systems 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.