Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Tremblant Capital Group

Tremblant Capital Group trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 600,234 shares of the technology company’s stock after selling 27,866 shares during the quarter. Varonis Systems comprises 3.1% of Tremblant Capital Group’s holdings, making the stock its 15th largest position. Tremblant Capital Group owned approximately 0.54% of Varonis Systems worth $28,793,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised 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 acquiring an additional 155,040 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Varonis Systems by 7.9% in the fourth quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock worth $200,436,000 after acquiring an additional 325,347 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after acquiring an additional 127,129 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Varonis Systems by 1.1% during the second 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Varonis Systems by 126.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after buying an additional 1,070,821 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the sale, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $56.12 on Tuesday. The company has a market cap of $6.26 billion, a price-to-earnings ratio of -59.70 and a beta of 0.81. The stock has a 50 day simple moving average of $53.17 and a 200-day simple moving average of $48.18. Varonis Systems, Inc. has a 12-month low of $29.47 and a 12-month high of $58.32. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The firm had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. During the same period last year, the business posted ($0.35) EPS. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on VRNS shares. Wells Fargo & Company lifted their target price on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $52.00 to $60.00 in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

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.