Scalar Gauge Management LLC Makes New $2.26 Million Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Scalar Gauge Management LLC bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 40,000 shares of the technology company’s stock, valued at approximately $2,260,000. Varonis Systems comprises about 1.2% of Scalar Gauge Management LLC’s holdings, making the stock its 20th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,442 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Varonis Systems during the 3rd quarter worth about $184,000. KBC Group NV increased its position in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the 2nd quarter valued at about $215,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction 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. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Varonis Systems Trading Up 0.8 %

NASDAQ VRNS opened at $49.96 on Friday. Varonis Systems, Inc. has a 1 year low of $40.48 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market capitalization of $5.62 billion, a PE ratio of -66.61 and a beta of 0.82. The company has a fifty day moving average of $54.52 and a 200 day moving average of $50.98.

Varonis Systems (NASDAQ:VRNS) last posted 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. The business had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) earnings per share. Research analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group boosted their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Piper Sandler lifted their target price on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.67.

About Varonis Systems

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.