Penn Capital Management Company LLC Acquires New Holdings in Varonis Systems, Inc. $VRNS

Penn Capital Management Company LLC purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,659 shares of the technology company’s stock, valued at approximately $1,090,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Capital Management Inc. boosted its holdings in Varonis Systems by 54.3% during the 1st quarter. American Capital Management Inc. now owns 2,328,379 shares of the technology company’s stock valued at $49,990,000 after acquiring an additional 819,340 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in Varonis Systems in the 2nd quarter valued at $61,262,000. Senvest Management LLC increased its stake in Varonis Systems by 406.1% in the first quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after purchasing an additional 1,162,651 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Varonis Systems by 218.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock worth $30,262,000 after purchasing an additional 966,817 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Varonis Systems during the second quarter worth $30,733,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 0.3%

Shares of Varonis Systems stock opened at $49.10 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.66 billion, a P/E ratio of -36.92 and a beta of 0.76. The firm’s 50 day moving average price is $47.82 and its 200-day moving average price is $36.09. Varonis Systems, Inc. has a 52-week low of $19.70 and a 52-week high of $50.31.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, November 3rd. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 22.20%. The company had revenue of $189.46 million during the quarter, compared to the consensus estimate of $186.74 million. During the same period last year, the firm earned $0.06 earnings per share. Varonis Systems’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts predict that Varonis Systems, Inc. will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VRNS shares. Needham & Company LLC lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a report on Friday, October 16th. Susquehanna cut shares of Varonis Systems from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $49.75 in a research report on Thursday, November 5th. Robert W. Baird upped their target price on shares of Varonis Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 16th. Rosenblatt Securities lowered shares of Varonis Systems from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $49.75 in a research report on Friday, October 16th. Finally, Yorkville Ives initiated coverage on shares of Varonis Systems in a research note on Monday, October 5th. They set an “in-line” rating and a $50.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.39.

Varonis Systems Profile

Varonis Systems, Inc. develops cybersecurity software focused on protecting organizations’ data. Its platform helps businesses discover and classify sensitive information, manage access, identify potential threats, and remediate security risks across cloud and on-premises environments. The company’s offerings include data security, identity security, and threat-detection capabilities. They are designed to help organizations protect information in systems such as Microsoft 365, cloud infrastructure, and other business applications.