Aigen Investment Management LP Has $736,000 Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Key Points

• Aigen Investment Management LP significantly reduced its stake in Varonis Systems by 59.5%, owning 18,203 shares worth approximately $736,000 as of the recent quarter.
• Varonis Systems reported quarterly earnings, exceeding expectations with $0.03 earnings per share and a revenue of $152.16 million, reflecting a 16.7% year-over-year increase.
• Institutional investors currently hold 95.65% of Varonis Systems' stock, indicating strong institutional support for the company amidst fluctuating analyst ratings and price targets.

Aigen Investment Management LP trimmed its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 59.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,203 shares of the technology company's stock after selling 26,790 shares during the quarter. Aigen Investment Management LP's holdings in Varonis Systems were worth $736,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VRNS. Deutsche Bank AG grew its holdings in Varonis Systems by 97.7% in the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after purchasing an additional 661,436 shares during the period. Two Sigma Advisers LP grew its stake in Varonis Systems by 64.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company's stock worth $61,322,000 after buying an additional 541,000 shares during the period. Penserra Capital Management LLC grew its stake in Varonis Systems by 52.2% during the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock worth $62,376,000 after buying an additional 529,182 shares during the period. Raymond James Financial Inc. purchased a new stake in Varonis Systems during the fourth quarter worth approximately $21,860,000. Finally, Ameriprise Financial Inc. grew its stake in Varonis Systems by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock worth $86,807,000 after buying an additional 431,306 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the director owned 131,666 shares of the company's stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of Varonis Systems stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares in the company, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,889 shares of company stock worth $3,324,324. Insiders own 2.30% of the company's stock.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $1.15 during trading hours on Thursday, hitting $56.95. 999,975 shares of the company's stock traded hands, compared to its average volume of 1,566,880. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. The company's fifty day simple moving average is $52.05 and its two-hundred day simple moving average is $46.19. The company has a market cap of $6.38 billion, a price-to-earnings ratio of -61.90 and a beta of 0.71.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wedbush upped their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley cut their price target on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird upped their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Jefferies Financial Group raised shares of Varonis Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $65.00 in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.50.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.