8,231 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Purchased by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 8,231 shares of the technology company’s stock, valued at approximately $465,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake 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 acquiring an additional 423 shares in the last quarter. International Assets Investment Management LLC grew its stake in 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 worth $140,000 after purchasing an additional 2,442 shares in the last quarter. KBC Group NV increased its holdings in Varonis Systems by 25.5% during the 3rd 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 period. Mercer Global Advisors Inc. ADV acquired a new stake in Varonis Systems in the 2nd quarter valued at about $215,000. Finally, O Neil Global Advisors Inc. grew its position in shares of Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after buying an additional 220 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $50.02 on Monday. Varonis Systems, Inc. has a 1 year low of $39.56 and a 1 year high of $60.58. The firm’s 50-day simple moving average is $54.98 and its 200-day simple moving average is $50.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

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

Analyst Ratings Changes

Several research analysts have commented on VRNS shares. TD Cowen boosted their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. UBS Group increased their target price on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Insider Activity

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

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.