Exchange Traded Concepts LLC Acquires 10,886 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Exchange Traded Concepts LLC boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,419 shares of the technology company’s stock after acquiring an additional 10,886 shares during the period. Exchange Traded Concepts LLC’s holdings in Varonis Systems were worth $2,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRNS. Assenagon Asset Management S.A. raised its stake in Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares during the period. WCM Investment Management LLC bought a new stake in Varonis Systems during the 3rd quarter worth approximately $17,419,000. Two Sigma Advisers LP raised its stake in Varonis Systems by 46.7% during the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after acquiring an additional 267,000 shares during the period. The Manufacturers Life Insurance Company raised its stake in Varonis Systems by 40.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after acquiring an additional 228,589 shares during the period. Finally, Thematics Asset Management raised its stake in Varonis Systems by 40.2% during the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock worth $29,945,000 after acquiring an additional 152,000 shares during the period. Institutional investors own 95.65% of the company’s stock.

Insider Transactions at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

VRNS has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Monday, January 6th. Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. Cantor Fitzgerald began coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Varonis Systems Stock Up 0.1 %

NASDAQ VRNS opened at $44.31 on Monday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $46.81 and a two-hundred day moving average of $51.54. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -59.08 and a beta of 0.83. Varonis Systems, Inc. has a 52 week low of $41.13 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same period in the previous year, the firm earned ($0.22) earnings per share. Varonis Systems’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, analysts predict that Varonis Systems, Inc. will post -0.7 earnings per share 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.