Varonis Systems, Inc. (NASDAQ:VRNS) Position Increased by AMI Asset Management Corp

AMI Asset Management Corp increased its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 68.1% during the 1st quarter, HoldingsChannel reports. The firm owned 27,668 shares of the technology company’s stock after acquiring an additional 11,212 shares during the period. AMI Asset Management Corp’s holdings in Varonis Systems were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Legacy Advisors LLC lifted its holdings in shares of Varonis Systems by 164.5% in the 1st quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company’s stock worth $853,000 after purchasing an additional 13,115 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Varonis Systems by 28.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 62,030 shares of the technology company’s stock valued at $2,509,000 after acquiring an additional 13,611 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Varonis Systems by 43.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,681 shares of the technology company’s stock valued at $270,000 after acquiring an additional 2,031 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in Varonis Systems during the 1st quarter valued at $255,000. Finally, NBC Securities Inc. raised 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 valued at $81,000 after acquiring an additional 2,004 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Insider Transactions at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock in a transaction on 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 now owns 131,666 shares of the company’s stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $50.15 on Thursday. The stock has a market cap of $5.61 billion, a PE ratio of -61.91 and a beta of 0.76. The business has a fifty day simple moving average of $46.20 and a 200-day simple moving average of $44.29. 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 12 month low of $36.53 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS) 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). The business had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business earned ($0.03) EPS. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VRNS shares. Morgan Stanley cut their target price on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Varonis Systems in a research report on Tuesday, June 10th. Barclays decreased their target price on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Finally, UBS Group increased their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Six investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.06.

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.