Aigen Investment Management LP Lowers Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Aigen Investment Management LP cut its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 59.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,203 shares of the technology company’s stock after selling 26,790 shares during the quarter. Aigen Investment Management LP’s holdings in Varonis Systems were worth $736,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quarry LP purchased a new position in Varonis Systems in the fourth quarter valued at approximately $36,000. Johnson Financial Group Inc. purchased a new stake in Varonis Systems during the 4th quarter worth $61,000. Transce3nd LLC acquired a new stake in Varonis Systems in the 4th quarter valued at $62,000. NBC Securities Inc. raised its position 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 valued at $81,000 after purchasing an additional 2,004 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Varonis Systems during the fourth quarter worth about $163,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $54.39 on Tuesday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of -59.12 and a beta of 0.71. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The business has a 50 day simple moving average of $51.61 and a 200-day simple moving average of $45.94. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. As a group, equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company upgraded shares of Varonis Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $51.00 to $70.00 in a research note on Monday. DA Davidson upped their target price on shares of Varonis Systems from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price objective on shares of Varonis Systems in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

Insider Buying and Selling at Varonis Systems

In other news, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the transaction, the director directly owned 128,666 shares in the company, valued at $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 51,889 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the transaction, the chief financial officer owned 470,602 shares in the company, valued at $25,930,170.20. This represents a 9.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,889 shares of company stock worth $3,324,324 in the last ninety days. 2.30% of the stock is owned by company insiders.

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.