BlackRock Fund Advisors recently announced the acquisition of new stake in Varonis Systems Inc. (NASDAQ:VRNS). The institutional investor has increased its shareholding in the Technology company by 7.35% to 7.94 million shares with purchase of 0.54 million shares. This fresh investment now brings its stake to 7.38% valued currently at $215.04 million. In addition, William Blair Investment Manageme raised its holdings by 0.91 million to 6.21 million shares. And First Trust Advisors LP has lifted its position by 10.83% or 0.43 million shares – to 4.38 million shares.
With over 3.0 million Varonis Systems Inc. (VRNS) shares trading Tuesday and a closing price of $25.50 on the day, the dollar volume was approximately $76.62 million. The shares have shown a negative half year performance of -16.61% and its price on 03/14/23 gained nearly 8.10%. Currently, there are 109.21M common shares owned by the public and among those 105.66M shares have been available to trade.
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Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 831,231 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 399,687 shares.
The top 3 mutual fund holders in Varonis Systems Inc. are First Trust NASDAQ Cybersecurity, Vanguard Total Stock Market Index, and Vanguard Explorer Fund. First Trust NASDAQ Cybersecurity owns 3.95 million shares of the company’s stock, all valued at over $106.96 million. Vanguard Total Stock Market Index bought 4811.0 shares to see its total holdings expand to 3.19 million shares valued at over $86.46 million and representing 2.97% of the shares outstanding. Vanguard Explorer Fund bought 0.38 million shares to bring its total holdings to over 2.82 million shares at a value of $76.25 million. Vanguard Explorer Fund now owns shares totaling to 2.62% of the shares outstanding.
Shares of Varonis Systems Inc. (NASDAQ: VRNS) opened at $24.13, up $0.54 from a prior closing price of $23.59. However, the script later moved the day high at 26.09, up 8.10%. The company’s stock has a 5-day price change of -5.83% and 20.11% over the past three months. VRNS shares are trading 6.52% year to date (YTD), with the 12-month market performance down to -36.87% lower. It has a 12-month low price of $15.61 and touched a high of $51.60 over the same period. VRNS has an average intraday trading volume of 1.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.17%, -2.31%, and -4.22% respectively.
Institutional ownership of Varonis Systems Inc. (NASDAQ: VRNS) shares accounts for 99.41% of the company’s 109.21M shares outstanding. Mutual fund holders own 41.08%, while other institutional holders and individual stakeholders account for 56.01% and 12.39% respectively.
It has a market capitalization of $2.83B and a beta (3y monthly) value of 0.91. The earnings-per-share (ttm) stands at -$1.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.73% over the week and 3.76% over the month.
Analysts forecast that Varonis Systems Inc. (VRNS) will achieve an EPS of -$0.05 for the current quarter, $0.05 for the next quarter and $0.41 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.70%, and 15.93% over the next financial year. EPS should grow at an annualized rate of 46.80% over the next five years, compared to -46.60% over the past 5-year period.
Robert W. Baird coverage for the Varonis Systems Inc. (VRNS) stock in a research note released on January 30, 2023 offered a Neutral rating with a price target of $30. JP Morgan was of a view on January 24, 2023 that the stock is Underweight, while Jefferies gave the stock Hold rating on January 05, 2023, issuing a price target of $26. Wells Fargo on their part issued Underweight rating on November 01, 2022.
