Varonis Systems, Inc. (NASDAQ:VRNS) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 25.3% during the first quarter, HoldingsChannel.com reports. The firm owned 40,332 shares of the technology company’s stock after purchasing an additional 8,136 shares during the period. Envestnet Asset Management Inc.’s holdings in Varonis Systems were worth $1,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Varonis Systems during the 4th quarter worth $36,000. Johnson Financial Group Inc. purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $61,000. Transce3nd LLC purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $62,000. New Age Alpha Advisors LLC purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $70,000. Finally, NBC Securities Inc. boosted its position in shares of Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock worth $81,000 after buying an additional 2,004 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VRNS shares. Royal Bank Of Canada boosted their price objective on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna boosted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price objective on shares of Varonis Systems in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. decreased 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 report on Monday, April 28th. Finally, Wedbush boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.31.

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 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 directly owned 131,666 shares in the company, valued at $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is currently owned by insiders.

Varonis Systems Trading Up 5.3%

Shares of VRNS stock opened at $57.11 on Thursday. The firm has a market cap of $6.39 billion, a P/E ratio of -62.08 and a beta of 0.76. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15. The firm’s 50-day simple moving average is $50.42 and its 200-day simple moving average is $45.37.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data 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 business had revenue of $152.16 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. As a group, equities analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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.