Panagora Asset Management Inc. Boosts Holdings in Varonis Systems Inc (VRNS)

Panagora Asset Management Inc. raised its position in shares of Varonis Systems Inc (NASDAQ:VRNS) by 512.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,915 shares of the technology company’s stock after acquiring an additional 16,664 shares during the period. Panagora Asset Management Inc. owned approximately 0.07% of Varonis Systems worth $1,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. grew its position in Varonis Systems by 2.5% during the third quarter. BlackRock Inc. now owns 2,020,727 shares of the technology company’s stock valued at $148,020,000 after acquiring an additional 49,804 shares during the period. FMR LLC grew its position in Varonis Systems by 23.3% during the second quarter. FMR LLC now owns 889,319 shares of the technology company’s stock valued at $66,255,000 after acquiring an additional 167,869 shares during the period. Credit Suisse AG grew its position in Varonis Systems by 19.9% during the third quarter. Credit Suisse AG now owns 883,279 shares of the technology company’s stock valued at $64,701,000 after acquiring an additional 146,311 shares during the period. Jackson Square Partners LLC grew its position in Varonis Systems by 9,878.9% during the third quarter. Jackson Square Partners LLC now owns 662,097 shares of the technology company’s stock valued at $48,498,000 after acquiring an additional 655,462 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its position in Varonis Systems by 0.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 609,600 shares of the technology company’s stock valued at $44,653,000 after acquiring an additional 4,160 shares during the period. 84.11% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ VRNS opened at $56.51 on Friday. Varonis Systems Inc has a 1-year low of $47.10 and a 1-year high of $83.10. The stock has a market capitalization of $1.70 billion, a PE ratio of -113.02 and a beta of 0.93.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.23. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. The company had revenue of $67.05 million during the quarter, compared to the consensus estimate of $64.47 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The company’s revenue was up 25.7% compared to the same quarter last year. As a group, research analysts expect that Varonis Systems Inc will post -0.9 EPS for the current fiscal year.

A number of equities research analysts have issued reports on VRNS shares. Needham & Company LLC boosted their price target on Varonis Systems to $90.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Wedbush began coverage on Varonis Systems in a research report on Thursday, October 18th. They issued a “neutral” rating and a $65.00 target price for the company. Morgan Stanley decreased their target price on Varonis Systems from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 30th. Robert W. Baird began coverage on Varonis Systems in a research report on Thursday, October 18th. They issued an “outperform” rating and a $75.00 target price for the company. Finally, BidaskClub raised Varonis Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $73.88.

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Varonis Systems Profile

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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