AMI Asset Management Corp Acquires 11,212 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

AMI Asset Management Corp boosted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 68.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,668 shares of the technology company's stock after acquiring an additional 11,212 shares during the quarter. AMI Asset Management Corp's holdings in Varonis Systems were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Legacy Advisors LLC grew its holdings in Varonis Systems by 164.5% in the 1st quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company's stock valued at $853,000 after buying an additional 13,115 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Varonis Systems by 28.1% in the first quarter. Exchange Traded Concepts LLC now owns 62,030 shares of the technology company's stock valued at $2,509,000 after acquiring an additional 13,611 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Varonis Systems by 43.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,681 shares of the technology company's stock worth $270,000 after acquiring an additional 2,031 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Varonis Systems during the first quarter worth $255,000. Finally, NBC Securities Inc. raised its stake in Varonis Systems by 100,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after purchasing an additional 2,004 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the sale, the director now owns 131,666 shares of the company's stock, valued at $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VRNS. JPMorgan Chase & Co. decreased their price target on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research report on Tuesday, June 10th. Wall Street Zen upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. UBS Group raised their price objective on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Varonis Systems has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Price Performance

Shares of VRNS traded up $0.78 during trading hours on Thursday, hitting $50.93. The stock had a trading volume of 880,690 shares, compared to its average volume of 1,513,874. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -62.88 and a beta of 0.76. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15. The company's fifty day moving average is $46.38 and its two-hundred day moving average is $44.33. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The firm had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. Varonis Systems's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. On average, analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems Company Profile

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.