Varonis Systems, Inc. (NASDAQ:VRNS) Stock Holdings Increased 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. grew its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,332 shares of the technology company's stock after buying 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 reporting period.

Several other hedge funds also recently added to or reduced their stakes in VRNS. First Trust Advisors LP boosted its stake in shares of Varonis Systems by 4.8% during the fourth quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock valued at $111,145,000 after purchasing an additional 113,573 shares in the last quarter. Hood River Capital Management LLC increased its holdings in Varonis Systems by 12.3% in the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock valued at $94,053,000 after buying an additional 231,998 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Varonis Systems by 28.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock valued at $86,807,000 after buying an additional 431,306 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Varonis Systems by 52.2% in the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock valued at $62,376,000 after purchasing an additional 529,182 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Varonis Systems by 64.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company's stock valued at $61,322,000 after purchasing an additional 541,000 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Trading Down 2.0%

VRNS traded down $1.10 during trading on Friday, hitting $54.73. 2,070,121 shares of the company's stock were exchanged, compared to its average volume of 1,689,729. The firm has a market cap of $6.13 billion, a P/E ratio of -59.49 and a beta of 0.71. The stock has a 50 day moving average price of $50.60 and a 200 day moving average price of $45.45. The company has a current ratio of 1.38, a quick ratio of 1.15 and a debt-to-equity ratio of 1.32. 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 posted its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. As a group, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, CFO Guy Melamed sold 51,889 shares of the firm'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 owned 470,602 shares in the company, valued at approximately $25,930,170.20. This trade represents a 9.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Den Bosch Fred Van sold 6,000 shares of the firm's 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 transaction, the director owned 131,666 shares of the company's stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,889 shares of company stock valued at $3,324,324 in the last 90 days. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of analyst reports. Wall Street Zen raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Susquehanna upped their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Needham & Company LLC increased their target price on shares of Varonis Systems from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, DA Davidson increased their price target on shares of Varonis Systems from $47.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $57.31.

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.