Rhumbline Advisers Acquires 9,404 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Rhumbline Advisers grew its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,984 shares of the technology company's stock after purchasing an additional 9,404 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Varonis Systems worth $7,038,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, Director Den Bosch Fred Van sold 6,000 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their price objective on Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. 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 report on Wednesday, May 7th. Barclays dropped their target price on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group reduced their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley lowered their price objective 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. Six investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $55.06.

Varonis Systems Price Performance

Shares of VRNS stock traded down $0.93 during mid-day trading on Thursday, reaching $49.30. The stock had a trading volume of 1,614,088 shares, compared to its average volume of 1,535,433. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a market cap of $5.52 billion, a P/E ratio of -57.32 and a beta of 0.76. The business has a 50-day simple moving average of $44.54 and a 200 day simple moving average of $44.36. 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 results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The company had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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.