Varonis Systems, Inc. (NASDAQ:VRNS) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 161.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,440 shares of the technology company’s stock after purchasing an additional 10,152 shares during the period. Teacher Retirement System of Texas’ holdings in Varonis Systems were worth $665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRNS. Peregrine Capital Management LLC lifted its position in shares of Varonis Systems by 9.8% in the 1st quarter. Peregrine Capital Management LLC now owns 293,443 shares of the technology company’s stock valued at $11,870,000 after acquiring an additional 26,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Varonis Systems by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company’s stock valued at $352,000 after purchasing an additional 1,323 shares during the period. Diversified Trust Co lifted its holdings in shares of Varonis Systems by 62.7% in the first quarter. Diversified Trust Co now owns 24,595 shares of the technology company’s stock valued at $995,000 after purchasing an additional 9,482 shares in the last quarter. AMI Asset Management Corp boosted its position in shares of Varonis Systems by 68.1% in the first quarter. AMI Asset Management Corp now owns 27,668 shares of the technology company’s stock worth $1,119,000 after buying an additional 11,212 shares during the period. Finally, Legacy Advisors LLC grew its holdings in shares of Varonis Systems by 164.5% during the first quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company’s stock valued at $853,000 after buying an additional 13,115 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock in a transaction that occurred 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 sale, the director owned 131,666 shares of the company’s stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Varonis Systems Stock Performance

VRNS opened at $50.34 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $48.87 and its two-hundred day moving average price is $44.73. The firm has a market capitalization of $5.63 billion, a P/E ratio of -62.15 and a beta of 0.76. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced 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. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Friday, March 28th. Morgan Stanley dropped their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Varonis Systems in a research note on Tuesday, June 10th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Varonis Systems currently has an average 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.