Lannebo Fonder AB Increases Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Lannebo Fonder AB boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 16.0% during the first quarter, HoldingsChannel.com reports. The firm owned 43,500 shares of the technology company’s stock after acquiring an additional 6,000 shares during the period. Lannebo Fonder AB’s holdings in Varonis Systems were worth $2,068,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of VRNS. First Trust Advisors LP increased its position in shares of Varonis Systems by 50.0% in the fourth quarter. First Trust Advisors LP now owns 3,550,829 shares of the technology company’s stock worth $173,209,000 after acquiring an additional 1,184,082 shares in the last quarter. Marshall Wace LLP boosted its stake in Varonis Systems by 2,756.4% during the 4th quarter. Marshall Wace LLP now owns 640,173 shares of the technology company’s stock valued at $31,230,000 after acquiring an additional 617,761 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Varonis Systems by 36.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,722,500 shares of the technology company’s stock valued at $84,023,000 after acquiring an additional 457,206 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Varonis Systems by 116.8% during the 4th quarter. Renaissance Technologies LLC now owns 780,300 shares of the technology company’s stock valued at $38,063,000 after acquiring an additional 420,400 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Varonis Systems by 283.9% during the 4th quarter. Millennium Management LLC now owns 553,427 shares of the technology company’s stock valued at $26,996,000 after acquiring an additional 409,279 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.

NASDAQ:VRNS traded up $1.51 during trading hours on Friday, hitting $30.83. 11,195 shares of the stock traded hands, compared to its average volume of 1,201,341. The firm has a 50 day moving average price of $33.98 and a 200 day moving average price of $40.01. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.46. Varonis Systems, Inc. has a fifty-two week low of $27.97 and a fifty-two week high of $73.46. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -24.23 and a beta of 1.30.

Varonis Systems (NASDAQ:VRNSGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The technology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.10). Varonis Systems had a negative return on equity of 19.97% and a negative net margin of 31.58%. The company had revenue of $96.26 million during the quarter, compared to analyst estimates of $96.00 million. During the same period last year, the company posted ($0.34) earnings per share. Research analysts predict that Varonis Systems, Inc. will post -0.9 EPS for the current year.

In related news, VP Dov Gottlieb sold 8,907 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total value of $294,554.49. Following the completion of the sale, the vice president now directly owns 161,722 shares in the company, valued at $5,348,146.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 116,945 shares of the company’s stock, valued at $5,847,250. The disclosure for this sale can be found here. Insiders sold 14,407 shares of company stock worth $562,624 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on VRNS shares. Wedbush reduced their price target on shares of Varonis Systems from $60.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 3rd. StockNews.com initiated coverage on Varonis Systems in a research report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company upgraded Varonis Systems from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $46.00 to $60.00 in a research report on Friday, April 29th. Jefferies Financial Group reduced their price objective on Varonis Systems from $65.00 to $40.00 in a research report on Monday, May 23rd. Finally, Truist Financial reduced their price objective on Varonis Systems from $65.00 to $50.00 in a research report on Tuesday, May 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.77.

About Varonis Systems (Get Rating)

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; strategic and product plans; and other intellectual property.

See Also

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Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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