Emerald Advisers LLC Sells 20,945 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Emerald Advisers LLC lessened its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 933,656 shares of the technology company’s stock after selling 20,945 shares during the quarter. Varonis Systems comprises about 2.1% of Emerald Advisers LLC’s investment portfolio, making the stock its 4th largest position. Emerald Advisers LLC’s holdings in Varonis Systems were worth $52,752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. Vanguard Group Inc. boosted its position in Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after purchasing an additional 155,040 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after acquiring an additional 127,129 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after buying an additional 23,231 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after buying an additional 133,109 shares in the last quarter. Finally, Hood River Capital Management LLC increased its holdings in Varonis Systems by 40.8% in the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock worth $76,032,000 after purchasing an additional 466,688 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on VRNS. TD Cowen upped their price target on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Wedbush reissued an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird lifted their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the sale, the insider now directly owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded up $0.86 on Friday, hitting $51.23. 3,431,604 shares of the company were exchanged, compared to its average volume of 1,732,183. Varonis Systems, Inc. has a 1-year low of $32.26 and a 1-year high of $60.58. The stock’s 50 day moving average price is $55.86 and its 200 day moving average price is $50.10. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $5.75 billion, a P/E ratio of -68.31 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.22%. The company had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter in the previous year, the company earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems 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.