Y Intercept Hong Kong Ltd Has $701,000 Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Key Points

• Y Intercept Hong Kong Ltd has increased its holdings in Varonis Systems, Inc. by 180.6%, now owning a total of 17,340 shares valued at approximately $701,000.
• Several large investors, including Norges Bank and Deutsche Bank AG, have made significant investments or increased their stakes in Varonis, leading to approximately 95.65% of the stock being owned by institutional investors.
• Analysts have mixed ratings on Varonis, with Jefferies upgrading it to a "buy" while others like Morgan Stanley have lowered their price targets; the average target price is currently $56.67.

Y Intercept Hong Kong Ltd boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 180.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,340 shares of the technology company's stock after acquiring an additional 11,161 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Varonis Systems were worth $701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. HighTower Advisors LLC bought a new stake in Varonis Systems during the fourth quarter worth about $365,000. Sei Investments Co. grew its stake in Varonis Systems by 13.0% during the fourth quarter. Sei Investments Co. now owns 217,516 shares of the technology company's stock worth $9,664,000 after buying an additional 24,949 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Varonis Systems during the fourth quarter worth about $1,026,000. Vanguard Group Inc. grew its stake in Varonis Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock worth $544,124,000 after buying an additional 193,210 shares during the last quarter. Finally, Norges Bank bought a new stake in Varonis Systems during the fourth quarter worth about $56,561,000. Institutional investors own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Robert W. Baird upped their target price on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Jefferies Financial Group upgraded shares of Varonis Systems from a "hold" rating to a "buy" rating and upped their target price for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average price target of $56.67.

Insider Activity

In other news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director owned 131,666 shares of the company's stock, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Varonis Systems Trading Up 0.1%

NASDAQ VRNS traded up $0.06 during trading hours on Tuesday, hitting $54.47. The company's stock had a trading volume of 1,338,488 shares, compared to its average volume of 1,544,763. The stock has a fifty day moving average of $50.05 and a 200 day moving average of $45.23. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The firm has a market capitalization of $6.10 billion, a P/E ratio of -67.22 and a beta of 0.76. 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 (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The firm had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same period in the previous year, the company posted ($0.03) EPS. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. Equities research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal 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.