Oak Ridge Investments LLC Acquires 5,063 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Key Points

• Oak Ridge Investments LLC increased its holdings in Varonis Systems by 16.1% in the first quarter, acquiring an additional 5,063 shares and valuing its total stake at approximately $1.48 million.
• Several analysts have upgraded their ratings for Varonis Systems, with Jefferies raising its price target from $50.00 to $65.00, contributing to a general consensus rating of "Moderate Buy".
• Varonis Systems reported a revenue increase of 16.7% year-over-year, achieving $152.16 million for the last quarter and exceeding analysts' expectations.

Oak Ridge Investments LLC increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,523 shares of the technology company's stock after purchasing an additional 5,063 shares during the period. Oak Ridge Investments LLC's holdings in Varonis Systems were worth $1,477,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quarry LP bought a new position in Varonis Systems during the fourth quarter valued at $36,000. Johnson Financial Group Inc. bought a new position in Varonis Systems during the fourth quarter valued at $61,000. Transce3nd LLC bought a new position in Varonis Systems during the fourth quarter valued at $62,000. NBC Securities Inc. increased its position in Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after acquiring an additional 2,004 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Varonis Systems during the fourth quarter valued at $163,000. Institutional investors own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRNS. Jefferies Financial Group upgraded shares of Varonis Systems from a "hold" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $65.00 in a research report on Thursday, July 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered 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 note on Monday, April 28th. Finally, Susquehanna boosted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Varonis Systems Stock Up 2.2%

NASDAQ:VRNS opened at $58.10 on Thursday. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a 50-day moving average of $51.92 and a 200 day moving average of $46.10. The firm has a market cap of $6.51 billion, a PE ratio of -63.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 51,889 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.10, for a total value of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares in the company, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Den Bosch Fred Van sold 6,000 shares of the business'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 transaction, the director owned 131,666 shares of the company's stock, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,889 shares of company stock valued at $3,324,324 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Varonis Systems 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.

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