Universal Beteiligungs und Servicegesellschaft mbH Sells 77,906 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Varonis Systems by 50.5%, owning approximately 0.07% of the company worth $3.08 million after selling over 77,000 shares.
• Varonis Systems reported a revenue increase of 16.7% year-over-year for the latest quarter, achieving $152.16 million compared to analyst expectations of $147.80 million.
• Several research firms have raised their price targets for Varonis Systems, with UBS Group increasing their target from $60.00 to $65.00, indicating strong positive sentiment among analysts.

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 50.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,226 shares of the technology company's stock after selling 77,906 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Varonis Systems worth $3,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brown Advisory Inc. bought a new stake in Varonis Systems in the 1st quarter worth approximately $346,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Varonis Systems by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company's stock valued at $352,000 after buying an additional 1,323 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in Varonis Systems by 14.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company's stock worth $64,904,000 after acquiring an additional 205,781 shares in the last quarter. Penserra Capital Management LLC grew its stake in Varonis Systems by 52.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company's stock worth $62,376,000 after acquiring an additional 529,182 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in Varonis Systems by 164.5% in the 1st quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company's stock worth $853,000 after acquiring an additional 13,115 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

NASDAQ VRNS traded down $1.10 on Friday, hitting $54.73. 2,070,121 shares of the company were exchanged, compared to its average volume of 1,574,797. The firm has a 50 day moving average of $50.60 and a two-hundred day moving average of $45.45. The company has a market cap of $6.13 billion, a P/E ratio of -59.49 and a beta of 0.76. 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, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 22.01%. The company's revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. On average, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In other news, Director Den Bosch Fred Van sold 6,000 shares of the 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 owned 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 SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VRNS shares. Jefferies Financial Group upgraded shares of Varonis Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Wedbush increased their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday. Robert W. Baird increased their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a research note on Wednesday. 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, Wells Fargo & Company increased their price target on shares of Varonis Systems from $46.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.31.

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.