Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

VARONIS SYS INC (VRNS)

319 + Investors. Track Smart Money conviction in VRNS. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -32
Streak
1Q ▼
Buyers last Q
47%

Smart Money Signals — VRNS

Based on 305 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their VRNS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 91% of 3.0Y peak

91% of all-time peak
305 funds currently hold this stock — 91% of the 3.0-year high of 337 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 8% fewer funds vs a year ago

fund count last 6Q
28 fewer hedge funds hold VRNS compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 47% buying

180 buying203 selling
Last quarter: 203 funds reduced or exited vs 180 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
📈

More new buyers each quarter (+6 vs last Q)

new funds entering per quarter
Funds opening a new VRNS position: 38 → 59 → 63 → 69. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

61% of holders stayed for 2+ years

■ 61% conviction (2yr+) ■ 18% medium ■ 21% new
187 out of 305 hedge funds have held VRNS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +0%, value -42%

Value
-42%
Shares
+0%
Last quarter: funds added +0% more shares while total portfolio value only changed -42%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

63 → 38 → 59 → 63 → 69 new funds/Q
New funds entering each quarter: 38 → 59 → 63 → 69. A growing number of institutions are discovering VRNS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 67% of holders stayed 2+ years

■ 67% veterans ■ 12% 1-2yr ■ 22% new
Of 319 current holders: 213 (67%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 36% AUM from major funds

36% from top-100 AUM funds
42 of 305 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.2
out of 10
Low Exit Risk
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: VRNS

How many hedge funds hold VRNS — quarterly history vs. share price
Quarterly hedge fund ownership of VRNS vs. share price

Market Analysis: VRNS

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: VRNS

-- --
Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

52 top-rated funds 2 high-conviction
Consensus
7.5
/ 10
breadth
×
Elite
2.6
/ 10
conviction
Hedge Fund Positioning: VRNS
2026 Q1 Stats Unlock in 21 days 319 + Investors

Track Smart Money conviction in VRNS. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 319 347 -8.07%
13F Shares 116M 115M 0.37%
Total Value $3.75B $6.48B -42.16%
New Positions 69 63 +6
Increased Positions 133 131 +2
Closed Positions 102 43 +59
Reduced Positions 109 130 -21
Total Calls 11 10 10.0%
Total Puts 6 3 100.0%
PUT/CALL Ratio 0.55 0.3 Bullish

Statistics: VRNS

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
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Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

319 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in VRNS. Verified SEC 13F-HR filings.

Top 25 institutional holders of VRNS — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Kopion Asset Management, LLC 8.28% 495,694 $10.6M
2 Stephens Investment Management Group LLC 0.59% 1,992,760 $42.8M
3 Intellectus Partners, LLC 0.43% 97,576 $2.1M
4 PEREGRINE CAPITAL MANAGEMENT LLC 0.26% 326,153 $7.0M
5 Compass Wealth Management LLC 0.16% 31,023 $666K
6 BW Gestao de Investimentos Ltda. 0.14% 200,000 $4.3M
7 BW Gestao de Investimentos Ltda. 0.12% 171,584 $3.7M
8 Y-Intercept (Hong Kong) Ltd 0.12% 282,767 $6.1M
9 Pictet Asset Management Holding SA 0.07% 3,123,056 $67.0M
10 Banque Cantonale Vaudoise 0.05% 67,709 $1.5M
11 WOODSTOCK CORP 0.05% 24,526 $527K
12 Inspire Investing, LLC 0.04% 24,023 $516K
13 WESBANCO BANK INC 0.04% 68,200 $1.5M
14 SBI Okasan Asset Management Co.Ltd. 0.01% 10,600 $224K
15 E. Ohman J:or Asset Management AB 0.01% 15,700 $337K
16 SG Americas Securities, LLC 0.01% 328,802 $7K
17 Versant Capital Management, Inc 0.01% 3,325 $71K
18 Diversified Trust Co 0.01% 15,967 $343K
19 Private Advisor Group, LLC 0.00% 45,649 $980K
20 STEPHENS INC /AR/ 0.00% 16,723 $359K
21 Handelsbanken Fonder AB 0.00% 44,200 —
22 True Wealth Design, LLC 0.00% 398 $9K
23 Assenagon Asset Management S.A. 0.00% 71,080 $1.5M
24 Abound Wealth Management 0.00% 456 $10K
25 STRS OHIO 0.00% 25,600 $550K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — VARONIS SYS INC (VRNS)

What does the Smart Money Trend signal show for VRNS?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their VRNS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for VRNS?

More sellers than buyers — 47% buying: Last quarter: 203 funds reduced or exited vs 180 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for VRNS holders?

Strong quality — 36% AUM from major funds: 42 of 305 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held VRNS?

61% of holders stayed for 2+ years: 187 out of 305 hedge funds have held VRNS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.