Silvercrest Asset Management Group LLC Purchases 5,010 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Silvercrest Asset Management Group LLC lifted its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,554 shares of the technology company’s stock after buying an additional 5,010 shares during the period. Silvercrest Asset Management Group LLC owned about 0.10% of Varonis Systems worth $5,215,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Varonis Systems by 87.2% in the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after acquiring an additional 429 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Varonis Systems during the first quarter valued at $63,000. NBC Securities Inc. purchased a new stake in shares of Varonis Systems during the first quarter valued at $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Varonis Systems in the 4th quarter worth about $77,000. Finally, International Assets Investment Management LLC raised its position in Varonis Systems by 1,779.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after buying an additional 1,886 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VRNS shares. Barclays raised their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised Varonis Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $50.00 to $54.00 in a report on Friday, June 14th. Truist Financial restated a “buy” rating and issued a $60.00 price target (up from $55.00) on shares of Varonis Systems in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Varonis Systems Price Performance

Shares of VRNS traded up $6.58 during trading hours on Tuesday, reaching $55.07. 5,467,722 shares of the stock traded hands, compared to its average volume of 1,266,013. The company has a market cap of $6.14 billion, a P/E ratio of -56.61 and a beta of 0.82. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $45.47 and its two-hundred day moving average price is $46.34. Varonis Systems, Inc. has a 52-week low of $28.15 and a 52-week high of $56.68.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $130.35 million for the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative return on equity of 21.33% and a negative net margin of 20.38%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) earnings per share. On average, analysts anticipate that Varonis Systems, Inc. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the sale, the chief executive officer now owns 1,452,922 shares in the company, valued at $65,715,662.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate 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.