Magnetar Financial LLC Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Magnetar Financial LLC bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,767 shares of the technology company’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Varonis Systems in the fourth quarter valued at about $50,723,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Varonis Systems by 126.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock valued at $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Varonis Systems by 121.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,503,683 shares of the technology company’s stock worth $70,929,000 after purchasing an additional 824,163 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Varonis Systems during the first quarter valued at approximately $19,194,000. Finally, Eagle Asset Management Inc. purchased a new position in Varonis Systems during the fourth quarter valued at approximately $14,822,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

NASDAQ:VRNS traded up $0.01 during trading hours on Monday, reaching $48.48. 182,456 shares of the company were exchanged, compared to its average volume of 1,222,767. The stock’s 50-day moving average is $45.38 and its 200-day moving average is $46.33. Varonis Systems, Inc. has a twelve month low of $28.15 and a twelve month high of $52.88. The firm has a market cap of $5.41 billion, a PE ratio of -51.56 and a beta of 0.82. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, May 6th. The technology company reported ($0.37) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.37). Varonis Systems had a negative net margin of 20.38% and a negative return on equity of 21.33%. The firm had revenue of $114.02 million for the quarter, compared to analyst estimates of $113.81 million. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRNS shares. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Robert W. Baird lifted their target price on Varonis Systems from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday. Barclays raised their price target on Varonis Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Royal Bank of Canada boosted their price target on Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.56.

Insider Buying and Selling

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the sale, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

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.