Pallas Capital Advisors LLC Invests $255,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

Pallas Capital Advisors LLC acquired a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,296 shares of the technology company's stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VRNS. Quarry LP bought a new stake in shares of Varonis Systems during the 4th quarter worth about $36,000. Johnson Financial Group Inc. acquired a new stake in Varonis Systems during the fourth quarter worth approximately $61,000. Transce3nd LLC acquired a new position in shares of Varonis Systems in the fourth quarter valued at approximately $62,000. New Age Alpha Advisors LLC acquired a new position in shares of Varonis Systems in the fourth quarter valued at approximately $70,000. Finally, NBC Securities Inc. increased its stake in shares of Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after purchasing an additional 2,004 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VRNS has been the subject of several recent research reports. Barclays reduced their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. UBS Group boosted 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. Wolfe Research upgraded 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 note on Friday, March 28th. Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Jefferies Financial Group cut their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.06.

Insider Activity

In other news, Director Den Bosch Fred Van sold 6,000 shares of the company's stock in a transaction 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 transaction, the director now directly owns 131,666 shares in the company, valued at approximately $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Varonis Systems Price Performance

Shares of VRNS stock traded up $0.23 during trading hours on Tuesday, reaching $49.68. The company's stock had a trading volume of 850,416 shares, compared to its average volume of 1,530,756. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The firm's 50 day simple moving average is $45.21 and its 200-day simple moving average is $44.27. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of -61.33 and a beta of 0.76.

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 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 for the quarter, compared to the consensus estimate of $133.10 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Varonis Systems's quarterly revenue was up 19.6% compared to the same quarter last year. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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.