Stephens Investment Management Group LLC boosted its holdings in Varonis Systems Inc (NASDAQ:VRNS) by 59.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,639 shares of the technology company’s stock after acquiring an additional 68,240 shares during the quarter. Stephens Investment Management Group LLC owned 0.58% of Varonis Systems worth $16,160,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in VRNS. Meitav Dash Investments Ltd. increased its stake in Varonis Systems by 2,420.8% in the 1st quarter. Meitav Dash Investments Ltd. now owns 327,986 shares of the technology company’s stock worth $20,883,000 after acquiring an additional 314,975 shares during the last quarter. Wasatch Advisors Inc. increased its position in shares of Varonis Systems by 367.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 333,162 shares of the technology company’s stock valued at $29,478,000 after purchasing an additional 261,822 shares during the last quarter. Cadian Capital Management LP increased its position in shares of Varonis Systems by 11.2% during the 2nd quarter. Cadian Capital Management LP now owns 2,581,644 shares of the technology company’s stock valued at $228,424,000 after purchasing an additional 261,029 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Varonis Systems during the 1st quarter valued at about $15,818,000. Finally, Bank of Montreal Can increased its position in shares of Varonis Systems by 348.4% during the 2nd quarter. Bank of Montreal Can now owns 177,639 shares of the technology company’s stock valued at $18,290,000 after purchasing an additional 138,026 shares during the last quarter.
In other news, CFO Guy Melamed sold 13,553 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $94.61, for a total value of $1,282,249.33. Following the completion of the transaction, the chief financial officer now owns 177,286 shares of the company’s stock, valued at approximately $16,773,028.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Bass sold 47,500 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $99.08, for a total value of $4,706,300.00. Following the completion of the transaction, the executive vice president now directly owns 172,275 shares of the company’s stock, valued at approximately $17,069,007. The disclosure for this sale can be found here. Insiders sold a total of 175,977 shares of company stock valued at $18,934,584 in the last three months. Corporate insiders own 2.70% of the company’s stock.
Shares of NASDAQ:VRNS traded up $0.52 during trading on Wednesday, hitting $112.98. The stock had a trading volume of 2,423 shares, compared to its average volume of 371,573. Varonis Systems Inc has a 12 month low of $48.95 and a 12 month high of $127.37. The company has a market capitalization of $3.55 billion, a PE ratio of -39.74 and a beta of 1.17. The firm’s fifty day moving average is $115.56 and its 200 day moving average is $87.43. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 3.42.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, August 3rd. The technology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.20. Varonis Systems had a negative return on equity of 97.77% and a negative net margin of 33.75%. The firm had revenue of $66.57 million during the quarter, compared to analyst estimates of $56.89 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Varonis Systems Inc will post -2.73 EPS for the current fiscal year.
Several brokerages have recently commented on VRNS. Needham & Company LLC increased their price objective on Varonis Systems from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Monday. Berenberg Bank began coverage on Varonis Systems in a research report on Thursday, June 25th. They set a “hold” rating and a $91.00 price objective on the stock. Robert W. Baird lowered Varonis Systems from an “outperform” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research report on Thursday, July 23rd. JMP Securities assumed coverage on Varonis Systems in a research report on Tuesday, August 4th. They set an “outperform” rating and a $130.00 price objective on the stock. Finally, Wedbush increased their target price on Varonis Systems from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $116.17.
About Varonis Systems
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.
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