AtonRa Partners Lowers Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

AtonRa Partners lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,541 shares of the technology company’s stock after selling 1,312 shares during the period. AtonRa Partners’ holdings in Varonis Systems were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Semanteon Capital Management LP purchased a new stake in Varonis Systems during the fourth quarter worth $241,000. Bailard Inc. lifted its holdings in Varonis Systems by 23.0% during the fourth quarter. Bailard Inc. now owns 89,825 shares of the technology company’s stock worth $4,067,000 after buying an additional 16,785 shares during the period. Handelsbanken Fonder AB lifted its holdings in Varonis Systems by 23.9% during the fourth quarter. Handelsbanken Fonder AB now owns 21,800 shares of the technology company’s stock worth $987,000 after buying an additional 4,200 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in Varonis Systems by 31.0% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 486,510 shares of the technology company’s stock worth $22,029,000 after buying an additional 115,000 shares during the period. Finally, Xponance Inc. acquired a new position in shares of Varonis Systems during the fourth quarter worth $300,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VRNS shares. JMP Securities reaffirmed a “market outperform” rating and set a $63.00 price target on shares of Varonis Systems in a research report on Monday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of Varonis Systems in a research report on Friday, March 15th. Robert W. Baird upped their price target on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target (up from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Finally, Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $35.00 to $65.00 in a research report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.81.

Varonis Systems Stock Performance

VRNS traded down $0.44 during midday trading on Monday, hitting $44.89. 833,568 shares of the company were exchanged, compared to its average volume of 1,174,442. The company’s 50 day simple moving average is $47.54 and its 200 day simple moving average is $43.73. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -49.27 and a beta of 0.85. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51. Varonis Systems, Inc. has a 1-year low of $22.34 and a 1-year high of $52.88.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. The business had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.96 earnings per share for the current year.

Insider Transactions at Varonis Systems

In related news, Director Gili Iohan sold 19,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the transaction, the director now directly owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Varonis Systems news, EVP David Bass sold 116,325 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $50.32, for a total value of $5,853,474.00. Following the transaction, the executive vice president now directly owns 650,972 shares of the company’s stock, valued at approximately $32,756,911.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gili Iohan sold 19,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at $973,552.02. The disclosure for this sale can be found here. Insiders have sold a total of 372,419 shares of company stock valued at $18,571,413 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

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.