Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust trimmed its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 542,982 shares of the technology company's stock after selling 6,768 shares during the period. Varonis Systems makes up 1.6% of Emerald Mutual Fund Advisers Trust's portfolio, making the stock its 15th biggest position. Emerald Mutual Fund Advisers Trust owned 0.49% of Varonis Systems worth $21,964,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VRNS. Norges Bank bought a new position in Varonis Systems during the 4th quarter valued at $56,561,000. Groupama Asset Managment bought a new position in Varonis Systems during the 4th quarter valued at $55,538,000. Deutsche Bank AG boosted its stake in Varonis Systems by 97.7% during the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after acquiring an additional 661,436 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Varonis Systems by 64.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company's stock valued at $61,322,000 after acquiring an additional 541,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Varonis Systems by 11,353.2% during the 4th quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company's stock valued at $23,917,000 after acquiring an additional 533,600 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on VRNS. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Friday, March 28th. Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Jefferies Financial Group reduced 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 note on Monday, March 31st. Morgan Stanley reduced 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 note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Six 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.06.

Varonis Systems Stock Down 3.6%

VRNS stock opened at $49.58 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.23. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The firm's 50-day simple moving average is $48.62 and its 200 day simple moving average is $44.66. The stock has a market cap of $5.55 billion, a PE ratio of -61.21 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data 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). Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. The firm had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. During the same period last year, the business earned ($0.03) EPS. The firm's revenue was up 19.6% on a year-over-year basis. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the director owned 131,666 shares of the company's stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company's stock.

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.

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