Migdal Insurance & Financial Holdings Ltd. Has $18.80 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Migdal Insurance & Financial Holdings Ltd. raised its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 1,205.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 464,647 shares of the technology company’s stock after acquiring an additional 429,045 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Varonis Systems were worth $18,795,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank Of Canada boosted their price objective on Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Barclays boosted their target price on Varonis Systems from $54.00 to $60.00 and gave the stock 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 research report on Tuesday, June 10th. Wall Street Zen upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group dropped their target price on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Six 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 stock. Based on data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Varonis Systems Stock Up 1.1%

NASDAQ VRNS traded up $0.56 during trading hours on Friday, hitting $51.13. 48,350 shares of the company traded hands, compared to its average volume of 1,524,909. The business’s 50-day moving average is $48.97 and its 200-day moving average is $44.77. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of -63.14 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $133.10 million. During the same period last year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the sale, the director owned 131,666 shares in the company, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by corporate insiders.

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.