Principal Financial Group Inc. Decreases Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Principal Financial Group Inc. lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,604,709 shares of the technology company's stock after selling 80,396 shares during the quarter. Principal Financial Group Inc. owned approximately 1.43% of Varonis Systems worth $64,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Varonis Systems during the fourth quarter worth approximately $898,000. Charles Schwab Investment Management Inc. grew its position in shares of Varonis Systems by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 971,844 shares of the technology company's stock worth $43,179,000 after acquiring an additional 8,921 shares during the last quarter. Keybank National Association OH grew its position in shares of Varonis Systems by 6.7% during the fourth quarter. Keybank National Association OH now owns 10,184 shares of the technology company's stock worth $452,000 after acquiring an additional 639 shares during the last quarter. Arizona State Retirement System grew its position in shares of Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock worth $1,445,000 after acquiring an additional 425 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Varonis Systems during the fourth quarter worth approximately $21,860,000. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Stock Down 0.1%

VRNS stock traded down $0.05 during trading on Monday, hitting $51.10. The stock had a trading volume of 1,384,945 shares, compared to its average volume of 1,521,783. The company's 50 day moving average price is $47.75 and its two-hundred day moving average price is $44.44. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results 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 net margin of 15.88% and a negative return on equity of 20.01%. The firm had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. During the same period in the previous year, the firm posted ($0.03) EPS. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada lifted their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. UBS Group lifted their price objective 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. Jefferies Financial Group lowered their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price objective on shares of Varonis Systems in a research report on Tuesday, June 10th. Six equities research 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, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $55.06.

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 dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the director owned 131,666 shares in the company, valued at $6,583,300. The trade was a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by company insiders.

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.