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

Pallas Capital Advisors LLC bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,296 shares of the technology company's stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRNS. William Blair Investment Management LLC lifted its holdings in Varonis Systems by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after purchasing an additional 52,971 shares during the last quarter. Advantage Alpha Capital Partners LP raised its holdings in Varonis Systems by 30.1% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock valued at $4,038,000 after acquiring an additional 21,040 shares in the last quarter. Jump Financial LLC raised its holdings in Varonis Systems by 83.5% in the 4th quarter. Jump Financial LLC now owns 205,737 shares of the technology company's stock valued at $9,141,000 after acquiring an additional 93,619 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Varonis Systems by 28.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 323,217 shares of the technology company's stock valued at $14,361,000 after acquiring an additional 71,701 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Varonis Systems in the 4th quarter valued at $275,000. 95.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Den Bosch Fred Van sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 131,666 shares of the company's stock, valued at approximately $6,583,300. This represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by company insiders.

Varonis Systems Trading Down 0.6%

NASDAQ VRNS opened at $49.02 on Friday. The business's 50-day moving average price is $44.76 and its two-hundred day moving average price is $44.36. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The firm has a market capitalization of $5.49 billion, a PE ratio of -57.00 and a beta of 0.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

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 analysts' consensus estimates of ($0.05) by ($0.26). The business had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

VRNS has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada lifted their price objective on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. UBS Group lifted their price target on Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

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.

Want to see what other hedge funds are holding VRNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varonis Systems, Inc. (NASDAQ:VRNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.