Brown Advisory Inc. Invests $346,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

Brown Advisory Inc. acquired a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,546 shares of the technology company’s stock, valued at approximately $346,000.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Varonis Systems in the fourth quarter worth about $36,000. Johnson Financial Group Inc. purchased a new position in Varonis Systems during the 4th quarter valued at about $61,000. Transce3nd LLC purchased a new position in Varonis Systems during the 4th quarter valued at about $62,000. New Age Alpha Advisors LLC purchased a new position in Varonis Systems during the 4th quarter valued at about $70,000. Finally, NBC Securities Inc. grew its stake in Varonis Systems by 100,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock valued at $81,000 after acquiring an additional 2,004 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Den Bosch Fred Van sold 6,000 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director owned 131,666 shares of the company’s stock, valued at approximately $6,583,300. The trade was a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Varonis Systems Stock Down 0.2%

Shares of Varonis Systems stock opened at $50.34 on Wednesday. The business’s 50 day simple moving average is $48.87 and its 200 day simple moving average is $44.73. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58. The firm has a market cap of $5.63 billion, a PE ratio of -62.15 and a beta of 0.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The company had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent research reports. Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Friday, March 28th. Morgan Stanley cut their target price on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Barclays upped their price target on Varonis Systems from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $60.00 target price on shares of Varonis Systems in a report on Tuesday, June 10th. Finally, Wall Street Zen upgraded Varonis Systems from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.50.

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.