Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. holds approximately 10.85% of Varonis Systems, valued at $491.27 million, after reducing its holdings by 0.8% in the first quarter.
• Varonis Systems reported a 16.7% year-over-year revenue increase, posting $152.16 million in revenue during the last quarter, surpassing the consensus estimate.
• The stock has a recent trading price of $58.41 with a twelve-month low of $36.53 and a high of $60.58, reflecting significant investor interest.

Vanguard Group Inc. cut its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,145,087 shares of the technology company's stock after selling 101,682 shares during the quarter. Vanguard Group Inc. owned 10.85% of Varonis Systems worth $491,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP purchased a new stake in shares of Varonis Systems during the fourth quarter worth approximately $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems during the 4th quarter worth about $61,000. Transce3nd LLC acquired a new position in Varonis Systems during the 4th quarter worth about $62,000. NBC Securities Inc. lifted its stake in Varonis Systems by 100,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after acquiring an additional 2,004 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Varonis Systems during the 4th quarter worth about $163,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction on Friday, August 1st. The stock was sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the sale, the director owned 128,666 shares of the company's stock, valued at $7,086,923.28. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy Melamed sold 42,705 shares of Varonis Systems stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $57.72, for a total value of $2,464,932.60. Following the completion of the sale, the chief financial officer directly owned 427,897 shares of the company's stock, valued at approximately $24,698,214.84. This represents a 9.07% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,594 shares of company stock valued at $5,789,257. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Robert W. Baird upped their target price on Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Barclays upped their target price on Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a research report on Tuesday, July 22nd. Finally, Jefferies Financial Group raised Varonis Systems from a "hold" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $58.50.

Varonis Systems Price Performance

Varonis Systems stock traded up $1.46 during mid-day trading on Friday, hitting $58.41. 1,352,020 shares of the company were exchanged, compared to its average volume of 1,744,745. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. The business's 50 day simple moving average is $52.21 and its two-hundred day simple moving average is $46.29. The company has a market capitalization of $6.54 billion, a P/E ratio of -63.49 and a beta of 0.71. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%. Varonis Systems's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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.