Varonis Systems, Inc. (NASDAQ:VRNS) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 503,070 shares of the technology company's stock after acquiring an additional 97,100 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.45% of Varonis Systems worth $20,349,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in VRNS. Proficio Capital Partners LLC acquired a new stake in Varonis Systems in the 4th quarter worth about $898,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Varonis Systems by 2.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,458 shares of the technology company's stock valued at $2,553,000 after acquiring an additional 1,370 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Varonis Systems in the fourth quarter worth approximately $365,000. Swiss National Bank increased its position in shares of Varonis Systems by 1.3% during the fourth quarter. Swiss National Bank now owns 220,654 shares of the technology company's stock worth $9,804,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Varonis Systems in the 4th quarter valued at $458,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems 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 sale, the director owned 131,666 shares of the company's stock, valued at approximately $6,583,300. The trade was a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRNS. UBS Group boosted their price objective on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada increased their price target on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Barclays boosted their target price on Varonis Systems from $54.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley reduced their price target on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group lowered their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.50.

Varonis Systems Stock Performance

Varonis Systems stock traded up $0.27 during midday trading on Thursday, hitting $50.57. 1,378,477 shares of the company's stock were exchanged, compared to its average volume of 1,529,949. The firm's 50 day simple moving average is $48.97 and its 200 day simple moving average is $44.77. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. 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 $5.66 billion, a price-to-earnings ratio of -62.43 and a beta of 0.76.

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). Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The company had revenue of $136.42 million for the quarter, compared to analysts' expectations of $133.10 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The firm's revenue was up 19.6% on a year-over-year basis. Equities research analysts predict that Varonis Systems, Inc. will post -0.83 EPS 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.