Harvest Fund Management Co. Ltd Purchases New Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Harvest Fund Management Co. Ltd acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,253 shares of the technology company’s stock, valued at approximately $184,000.

A number of other hedge funds have also recently added to or reduced their stakes in VRNS. O Shaughnessy Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 865 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Varonis Systems by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,869 shares of the technology company’s stock valued at $2,919,000 after purchasing an additional 4,141 shares in the last quarter. Swedbank AB bought a new stake in shares of Varonis Systems during the first quarter worth about $3,344,000. Harbor Capital Advisors Inc. increased its stake in shares of Varonis Systems by 562.0% in the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock valued at $928,000 after buying an additional 16,416 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in Varonis Systems in the 2nd quarter valued at approximately $2,148,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS opened at $49.57 on Thursday. Varonis Systems, Inc. has a one year low of $40.10 and a one year high of $60.58. The company has a market cap of $5.58 billion, a PE ratio of -66.09 and a beta of 0.82. The stock has a 50-day moving average of $54.75 and a 200-day moving average of $50.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter last year, the firm posted ($0.22) earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities research analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, October 30th. UBS Group lifted their target price on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Monday, August 26th. Finally, Barclays lifted their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Varonis Systems has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Insider Buying and Selling at Varonis Systems

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

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.