Thu Sep 26 12:57:14 UTC 2024: ## HSBC Boosts Investment in Varonis Systems, Other Investors Follow Suit

**New York, NY (MarketBeat News) -** HSBC Holdings PLC significantly increased its stake in Varonis Systems, Inc. (NASDAQ: VRNS) during the second quarter, purchasing an additional 31,600 shares, resulting in a 127.4% increase in its holdings. This move brings HSBC’s total ownership to 56,409 shares, representing approximately 0.05% of Varonis Systems, valued at $2,673,000.

This increased investment by HSBC signals strong confidence in Varonis Systems, a company specializing in data security software. Other notable investors have also shown interest in the company. Fidelis Capital Partners LLC, NBC Securities Inc., Assetmark Inc., Mercer Global Advisors Inc. ADV, and Vanguard Personalized Indexing Management LLC all made new investments in Varonis Systems during recent quarters.

Institutional investors now own 95.65% of Varonis Systems, highlighting the strong institutional interest in the company.

Varonis Systems stock opened at $57.15 on Thursday, with a 52-week low of $29.47 and a high of $58.32. The company has a market capitalization of $6.41 billion and boasts a PE ratio of -60.80.

In recent news, Vice Chairman James O’boyle sold 75,000 shares of Varonis Systems on August 6th at an average price of $51.04, totaling $3,828,000. Following this sale, O’boyle currently owns 494,114 shares, valued at $25,219,578.56. Insiders own 2.60% of the company’s stock.

Analysts remain optimistic about Varonis Systems, with several research firms raising their target price and rating the stock as a “buy” or “outperform.” Baird R W, JPMorgan Chase & Co., Wedbush, and Barclays are among the firms that have recently upgraded their outlook on Varonis Systems.

MarketBeat.com currently rates Varonis Systems as a “Moderate Buy” with a consensus target price of $56.33.

Varonis Systems provides data security software that helps enterprises manage, analyze, alert, and secure their data, both on-premises and in the cloud. The company’s software protects a range of sensitive information, including financial records, intellectual property, and confidential personal data.

Read More