Migdal Insurance & Financial Holdings Ltd. Boosts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Migdal Insurance & Financial Holdings Ltd. raised its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1,205.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 464,647 shares of the technology company's stock after buying an additional 429,045 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.42% of Varonis Systems worth $18,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRNS. Proficio Capital Partners LLC purchased a new stake in Varonis Systems in the 4th quarter valued at about $898,000. HighTower Advisors LLC purchased a new stake in shares of Varonis Systems during the 4th quarter worth about $365,000. Swiss National Bank grew its holdings in shares of Varonis Systems by 1.3% during the 4th 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 during the period. Cibc World Markets Corp purchased a new stake in shares of Varonis Systems during the 4th quarter worth about $458,000. Finally, Xponance Inc. grew its holdings in shares of Varonis Systems by 9.2% during the 4th quarter. Xponance Inc. now owns 7,883 shares of the technology company's stock worth $350,000 after purchasing an additional 664 shares during the period. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Up 1.1%

Shares of NASDAQ:VRNS traded up $0.56 during midday trading on Friday, reaching $51.13. The company had a trading volume of 48,350 shares, compared to its average volume of 1,524,909. The company has a fifty day simple moving average of $48.97 and a two-hundred day simple moving average of $44.77. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of -63.14 and a beta of 0.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. 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 announced its quarterly earnings data 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 return on equity of 20.01% and a negative net margin of 15.88%. The business had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The firm's revenue was up 19.6% on a year-over-year basis. Research analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VRNS shares. JPMorgan Chase & Co. decreased their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Barclays upped their target price on Varonis Systems from $54.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday. UBS Group upped their price target on Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada upped their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.50.

About Varonis Systems

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.

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