Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 64.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,573 shares of the technology company's stock after selling 24,983 shares during the period. Vontobel Holding Ltd.'s holdings in Varonis Systems were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in VRNS. Norges Bank acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $56,561,000. Groupama Asset Managment acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $55,538,000. Deutsche Bank AG boosted its position in Varonis Systems by 97.7% in the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after buying an additional 661,436 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Varonis Systems by 64.5% during the fourth 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 raised its stake in shares of Varonis Systems by 11,353.2% during the fourth 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. Institutional investors and hedge funds own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

VRNS has been the subject of a number of research reports. UBS Group raised their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays reduced their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Friday, March 28th. Finally, Morgan Stanley reduced their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $55.06.

Insider Activity

In related news, Director Den Bosch Fred Van sold 6,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company's stock.

Varonis Systems Stock Down 0.9%

Shares of VRNS traded down $0.49 during mid-day trading on Tuesday, hitting $50.62. 111,581 shares of the company traded hands, compared to its average volume of 1,516,355. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $5.67 billion, a PE ratio of -62.35 and a beta of 0.76. The business has a 50 day moving average of $47.93 and a 200 day moving average of $44.48.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) EPS 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 for the quarter, compared to analyst estimates of $133.10 million. During the same period in the previous year, the business earned ($0.03) EPS. Varonis Systems's revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS 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.