Exchange Traded Concepts LLC Acquires 13,611 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Exchange Traded Concepts LLC raised its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 28.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,030 shares of the technology company's stock after acquiring an additional 13,611 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of Varonis Systems worth $2,509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quarry LP bought a new position in Varonis Systems in the 4th quarter valued at approximately $36,000. Johnson Financial Group Inc. bought a new position in Varonis Systems in the 4th quarter valued at approximately $61,000. Transce3nd LLC bought a new position in Varonis Systems in the 4th quarter valued at approximately $62,000. New Age Alpha Advisors LLC bought a new position in Varonis Systems in the 4th quarter valued at approximately $70,000. Finally, NBC Securities Inc. raised its holdings in Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after buying an additional 2,004 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays decreased their target price on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. UBS Group increased their target price 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. Jefferies Financial Group decreased their target price on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and a consensus target price of $55.06.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the firm's 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 now directly owns 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Varonis Systems Stock Down 1.5%

NASDAQ VRNS traded down $0.73 during mid-day trading on Friday, hitting $48.98. The company's stock had a trading volume of 1,958,990 shares, compared to its average volume of 1,521,679. The company's 50 day simple moving average is $45.87 and its 200 day simple moving average is $44.29. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of -60.47 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly 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 business had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. During the same period in the previous year, the business posted ($0.03) EPS. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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.