Edgestream Partners L.P. Sells 66,892 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Edgestream Partners L.P. decreased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 77.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 19,634 shares of the technology company's stock after selling 66,892 shares during the period. Edgestream Partners L.P.'s holdings in Varonis Systems were worth $794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CWM LLC raised its position in shares of Varonis Systems by 265.6% during the 1st quarter. CWM LLC now owns 12,773 shares of the technology company's stock valued at $517,000 after acquiring an additional 9,279 shares during the last quarter. Stephens Investment Management Group LLC increased its position in shares of Varonis Systems by 14.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock valued at $64,904,000 after buying an additional 205,781 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Varonis Systems by 3.1% in the 1st quarter. New York State Common Retirement Fund now owns 35,262 shares of the technology company's stock valued at $1,426,000 after buying an additional 1,075 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Varonis Systems by 0.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company's stock valued at $3,449,000 after buying an additional 284 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Varonis Systems by 6.2% in the 1st quarter. Xponance Inc. now owns 8,369 shares of the technology company's stock valued at $339,000 after buying an additional 486 shares in the last quarter. Institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $51.30 on Friday. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -63.33 and a beta of 0.76. The business has a 50-day moving average of $49.19 and a 200-day moving average of $44.86. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58.

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

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was 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 in the company, valued at $6,583,300. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRNS. UBS Group upped their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, March 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 price objective on shares of Varonis Systems in a research report on Tuesday, June 10th. Finally, Royal Bank Of Canada increased their target price on Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.50.

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.

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