Emerald Advisers LLC Sells 18,477 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Emerald Advisers LLC cut its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,065 shares of the technology company's stock after selling 18,477 shares during the period. Varonis Systems makes up about 1.7% of Emerald Advisers LLC's portfolio, making the stock its 12th biggest holding. Emerald Advisers LLC owned approximately 0.81% of Varonis Systems worth $36,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Varonis Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after acquiring an additional 193,210 shares in the last quarter. First Trust Advisors LP raised its holdings in Varonis Systems by 4.8% in the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock valued at $111,145,000 after acquiring an additional 113,573 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Varonis Systems by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after buying an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Varonis Systems by 1.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock worth $101,636,000 after buying an additional 29,852 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of Varonis Systems by 12.3% during the 4th quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock worth $94,053,000 after buying an additional 231,998 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on VRNS shares. Royal Bank Of Canada boosted their price target on Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, March 28th. UBS Group boosted their price target on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group lowered their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Finally, Wall Street Zen raised Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.06.

Varonis Systems Trading Down 3.6%

NASDAQ VRNS traded down $1.83 during trading hours on Friday, hitting $49.58. 1,680,022 shares of the company's stock were exchanged, compared to its average volume of 1,532,858. The stock has a 50-day simple moving average of $48.62 and a 200 day simple moving average of $44.66. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of -61.21 and a beta of 0.76. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23.

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

Insider Buying and Selling

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the director owned 131,666 shares in the company, valued at approximately $6,583,300. This 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 accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

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.