Brown Advisory Inc. Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Brown Advisory Inc. purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,546 shares of the technology company’s stock, valued at approximately $346,000.

A number of other institutional investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Varonis Systems by 7.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after purchasing an additional 298 shares in the last quarter. Teza Capital Management LLC boosted its stake in shares of Varonis Systems by 3.1% in the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock worth $437,000 after acquiring an additional 299 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Varonis Systems by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock worth $512,000 after buying an additional 365 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Varonis Systems by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company’s stock valued at $1,786,000 after purchasing an additional 424 shares during the last quarter. Finally, Occudo Quantitative Strategies LP raised its holdings in shares of Varonis Systems by 5.2% in the 4th quarter. Occudo Quantitative Strategies LP now owns 10,871 shares of the technology company’s stock valued at $483,000 after buying an additional 540 shares during the period. 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 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 sale, the director owned 131,666 shares in the company, valued at approximately $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their price objective on Varonis Systems from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Monday. 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. JPMorgan Chase & Co. dropped their price objective on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada raised their price target on Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

Varonis Systems Stock Performance

VRNS opened at $50.34 on Wednesday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -62.15 and a beta of 0.76. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The business has a 50 day moving average price of $48.87 and a two-hundred day moving average price of $44.73.

Varonis Systems (NASDAQ:VRNS) last released its 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). The firm had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. Research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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.