Clal Insurance Enterprises Holdings Ltd Has $20.63 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Key Points

• Clal Insurance Enterprises Holdings Ltd increased its stake in Varonis Systems, raising ownership by 15.9% to approximately 510,000 shares, valued at $20.63 million.
• Multiple institutional investors have also recently boosted their stakes in Varonis Systems, with ownership among hedge funds and institutional investors now at 95.65%.
• Varonis Systems reported an earnings per share of $0.03 for the last quarter, exceeding analysts' forecasts, as revenue increased by 16.7% year-over-year to $152.16 million.

Clal Insurance Enterprises Holdings Ltd lifted its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,000 shares of the technology company's stock after buying an additional 70,000 shares during the period. Clal Insurance Enterprises Holdings Ltd owned approximately 0.46% of Varonis Systems worth $20,630,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of VRNS. Brown Advisory Inc. acquired a new position in Varonis Systems in the first quarter valued at $346,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Varonis Systems by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company's stock valued at $352,000 after purchasing an additional 1,323 shares during the period. Stephens Investment Management Group LLC grew its stake in Varonis Systems by 14.7% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock worth $64,904,000 after buying an additional 205,781 shares during the last quarter. Penserra Capital Management LLC increased its position 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. Finally, Legacy Advisors LLC lifted its stake in Varonis Systems by 164.5% in the first 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. 95.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the sale, the director owned 128,666 shares in the company, valued at $7,086,923.28. This represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Guy Melamed sold 51,889 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the sale, the chief financial officer owned 470,602 shares of the company's stock, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,889 shares of company stock valued at $3,324,324. 2.30% of the stock is owned by insiders.

Varonis Systems Price Performance

Shares of VRNS stock traded down $1.15 during mid-day trading on Thursday, hitting $56.95. 999,975 shares of the stock traded hands, compared to its average volume of 1,566,880. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month 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 50-day simple moving average is $52.05 and its 200-day simple moving average is $46.19. The firm 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 released its earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The business had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. During the same period in the prior year, the business earned $0.05 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays raised their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $51.00 to $70.00 in a research report on Monday. DA Davidson lifted their price objective on shares of Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, UBS Group raised their price target on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.50.

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.