Harbor Capital Advisors Inc. Buys 16,416 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Harbor Capital Advisors Inc. lifted its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 562.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,337 shares of the technology company’s stock after acquiring an additional 16,416 shares during the period. Harbor Capital Advisors Inc.’s holdings in Varonis Systems were worth $928,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in VRNS. Natixis Advisors L.P. grew its stake in Varonis Systems by 3.7% during the 4th quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock worth $472,000 after buying an additional 370 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Varonis Systems by 12.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,713 shares of the technology company’s stock valued at $364,000 after purchasing an additional 865 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Varonis Systems during the 1st quarter valued at about $63,000. Finally, NBC Securities Inc. purchased a new stake in Varonis Systems during the 1st quarter valued at about $68,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

Shares of VRNS traded up $0.28 during midday trading on Wednesday, reaching $51.86. 477,238 shares of the stock were exchanged, compared to its average volume of 1,304,629. The business’s 50-day moving average price is $46.33 and its 200 day moving average price is $46.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.38. Varonis Systems, Inc. has a twelve month low of $29.25 and a twelve month high of $57.00. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -55.00 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The business had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the transaction, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at $65,715,662.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Susquehanna boosted their price target on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $52.00 to $60.00 in a research note on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Wedbush boosted their price target on Varonis Systems from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

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.