Edgestream Partners L.P. Boosts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Edgestream Partners L.P. increased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 144.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 103,825 shares of the technology company’s stock after purchasing an additional 61,425 shares during the period. Edgestream Partners L.P. owned approximately 0.09% of Varonis Systems worth $4,980,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EFG Asset Management North America Corp. raised its holdings in shares of Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after purchasing an additional 216 shares in the last quarter. O Neil Global Advisors Inc. raised its position in Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after acquiring an additional 220 shares during the last quarter. Hanseatic Management Services Inc. raised its position in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after buying an additional 275 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Varonis Systems by 3.5% in the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after buying an additional 401 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after purchasing an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $53.84 on Wednesday. Varonis Systems, Inc. has a twelve month low of $29.47 and a twelve 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. The company has a 50-day moving average of $52.64 and a 200-day moving average of $48.03. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -57.28 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VRNS shares. Susquehanna upped their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Robert W. Baird raised shares of Varonis Systems from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $60.00 in a report on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Insiders Place Their Bets

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

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.