Exchange Traded Concepts LLC Raises Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Exchange Traded Concepts LLC increased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 28.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 62,030 shares of the technology company's stock after purchasing an additional 13,611 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Varonis Systems worth $2,509,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Varonis Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock worth $544,124,000 after acquiring an additional 193,210 shares during the period. First Trust Advisors LP boosted its holdings 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 worth $111,145,000 after acquiring an additional 113,573 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after acquiring an additional 52,971 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Varonis Systems by 1.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock worth $101,636,000 after acquiring an additional 29,852 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in shares of Varonis Systems by 12.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock worth $94,053,000 after acquiring an additional 231,998 shares during the period. Institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Up 0.1%

NASDAQ:VRNS traded up $0.03 on Wednesday, hitting $49.71. The stock had a trading volume of 1,044,304 shares, compared to its average volume of 1,528,817. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $5.56 billion, a P/E ratio of -61.37 and a beta of 0.76. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The firm's fifty day simple moving average is $45.38 and its two-hundred day simple moving average is $44.31.

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

Insider Transactions at Varonis Systems

In other news, Director Den Bosch Fred Van sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now owns 131,666 shares in the company, valued at $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a research note on Tuesday, June 10th. 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. Jefferies Financial Group decreased their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Barclays decreased their price objective on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Friday, March 28th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.06.

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.