Rhumbline Advisers Raises Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Rhumbline Advisers grew its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,984 shares of the technology company's stock after acquiring an additional 9,404 shares during the quarter. Rhumbline Advisers owned about 0.15% of Varonis Systems worth $7,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its stake 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 buying an additional 52,971 shares during the last quarter. Advantage Alpha Capital Partners LP grew its stake in Varonis Systems by 30.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock worth $4,038,000 after buying an additional 21,040 shares during the last quarter. Jump Financial LLC grew its stake in Varonis Systems by 83.5% during the 4th quarter. Jump Financial LLC now owns 205,737 shares of the technology company's stock worth $9,141,000 after buying an additional 93,619 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Varonis Systems by 28.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 323,217 shares of the technology company's stock worth $14,361,000 after buying an additional 71,701 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Varonis Systems during the 4th quarter worth $275,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

Shares of VRNS stock traded down $0.28 on Friday, hitting $49.02. The company had a trading volume of 1,199,952 shares, compared to its average volume of 1,535,486. The firm has a market cap of $5.49 billion, a P/E ratio of -57.00 and a beta of 0.76. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $44.98 and a 200-day moving average price of $44.31.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share 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 return on equity of 20.35% and a negative net margin of 17.38%. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. As a group, equities research analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on VRNS shares. Jefferies Financial Group dropped their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped 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. Wolfe Research upgraded 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. Barclays dropped their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada boosted their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.06.

Insiders Place Their Bets

In other 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 value of $300,000.00. Following the completion of the sale, the director now directly owns 131,666 shares in the company, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by company insiders.

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.