Echo Street Capital Management LLC Grows Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Echo Street Capital Management LLC grew its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) by 39.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 24,577 shares of the technology company’s stock after purchasing an additional 6,967 shares during the period. Echo Street Capital Management LLC’s holdings in Varonis Systems were worth $1,168,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Mackenzie Financial Corp lifted its holdings in shares of Varonis Systems by 5.6% during the first quarter. Mackenzie Financial Corp now owns 6,103 shares of the technology company’s stock valued at $290,000 after purchasing an additional 325 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Varonis Systems by 116.7% during the first quarter. Quadrant Capital Group LLC now owns 622 shares of the technology company’s stock valued at $30,000 after purchasing an additional 335 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Varonis Systems by 3.4% during the first quarter. Envestnet Asset Management Inc. now owns 15,005 shares of the technology company’s stock valued at $713,000 after purchasing an additional 496 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Varonis Systems by 140.5% during the first quarter. Parallel Advisors LLC now owns 885 shares of the technology company’s stock valued at $42,000 after purchasing an additional 517 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new position in shares of Varonis Systems during the first quarter valued at approximately $25,000. 92.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRNS has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $65.00 to $40.00 in a report on Monday, May 23rd. Needham & Company LLC decreased their price objective on shares of Varonis Systems from $75.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Varonis Systems from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, August 2nd. UBS Group decreased their price objective on shares of Varonis Systems from $51.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 2nd. Finally, Barclays decreased their price objective on shares of Varonis Systems from $36.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.93.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $29.83 on Monday. Varonis Systems, Inc. has a 1 year low of $24.58 and a 1 year high of $70.99. The firm has a fifty day moving average price of $28.75 and a 200-day moving average price of $35.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.34 and a quick ratio of 4.34.

Varonis Systems (NASDAQ:VRNSGet Rating) last issued its quarterly earnings data on Monday, August 1st. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). Varonis Systems had a negative net margin of 30.67% and a negative return on equity of 22.15%. The business had revenue of $111.45 million for the quarter, compared to the consensus estimate of $111.40 million. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, Director Ofer Segev sold 1,500 shares of the business’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $31.48, for a total transaction of $47,220.00. Following the completion of the sale, the director now owns 75,410 shares of the company’s stock, valued at approximately $2,373,906.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

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.

Further Reading

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

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