Varonis Systems, Inc. (NASDAQ:VRNS) Holdings Boosted by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. raised its stake in Varonis Systems, increasing its shares by 25.3% to 40,332, which are valued at about $1.63 million.
• Several institutional investors, including Norges Bank and Arrowstreet Capital, significantly increased their holdings in Varonis Systems during the fourth quarter, contributing to a total institutional ownership of 95.65%.
• Varonis reported a quarterly earnings beat, with EPS of $0.03 against a consensus of $0.01, and revenues of $152.16 million, surpassing expectations of $147.80 million.

Envestnet Asset Management Inc. boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 25.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,332 shares of the technology company's stock after purchasing an additional 8,136 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Varonis Systems were worth $1,631,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Varonis Systems in the fourth quarter worth $36,000. Johnson Financial Group Inc. bought a new stake in shares of Varonis Systems in the 4th quarter valued at approximately $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems in the 4th quarter valued at approximately $62,000. New Age Alpha Advisors LLC purchased a new stake in shares of Varonis Systems in the fourth quarter worth approximately $70,000. Finally, NBC Securities Inc. increased its holdings 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 worth $81,000 after purchasing an additional 2,004 shares during the period. Institutional investors own 95.65% of the company's stock.

Insider Buying and Selling at Varonis Systems

In related 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 value of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares in the company, valued at approximately $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,889 shares of company stock worth $3,324,324 over the last ninety days. Corporate insiders own 2.30% of the company's stock.

Varonis Systems Stock Up 2.4%

Shares of NASDAQ VRNS traded up $1.30 during mid-day trading on Monday, hitting $56.03. The company had a trading volume of 944,257 shares, compared to its average volume of 1,570,165. The company has a market capitalization of $6.28 billion, a PE ratio of -60.90 and a beta of 0.71. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. The business's 50-day simple moving average is $50.76 and its 200 day simple moving average is $45.51. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VRNS. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their price objective on Varonis Systems from $46.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. decreased their price objective on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Jefferies Financial Group upgraded Varonis Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $50.00 to $65.00 in a research note on Thursday, July 24th. Finally, Susquehanna boosted their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and an average target price of $57.31.

Varonis Systems 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.