Emerald Advisers LLC Trims Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Emerald Advisers LLC lessened its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 933,656 shares of the technology company's stock after selling 20,945 shares during the quarter. Varonis Systems accounts for 2.1% of Emerald Advisers LLC's investment portfolio, making the stock its 4th largest position. Emerald Advisers LLC owned approximately 0.84% of Varonis Systems worth $52,752,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Varonis Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company's stock valued at $530,978,000 after purchasing an additional 155,040 shares during the period. Thrivent Financial for Lutherans grew its stake in Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock valued at $137,885,000 after purchasing an additional 127,129 shares during the period. William Blair Investment Management LLC grew its stake in Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock valued at $106,396,000 after purchasing an additional 23,231 shares during the period. Principal Financial Group Inc. grew its stake in shares of Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company's stock worth $78,517,000 after acquiring an additional 133,109 shares during the period. Finally, Hood River Capital Management LLC grew its stake in shares of Varonis Systems by 40.8% during the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock worth $76,032,000 after acquiring an additional 466,688 shares during the period. Institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $0.86 during trading on Friday, hitting $51.23. 3,431,604 shares of the stock traded hands, compared to its average volume of 1,732,183. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of -68.31 and a beta of 0.83. The firm's fifty day moving average is $55.86 and its 200-day moving average is $50.14. Varonis Systems, Inc. has a 52 week low of $32.26 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.22% and a negative net margin of 15.31%. The company's revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) EPS. Research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, Vice Chairman James O'boyle sold 50,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on VRNS shares. Baird R W upgraded Varonis Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Wells Fargo & Company increased their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Susquehanna increased their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a research note on Tuesday, July 30th. Finally, Robert W. Baird increased their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average price target of $58.75.

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.