Penserra Capital Management LLC Increases Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Penserra Capital Management LLC raised its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 52.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,542,071 shares of the technology company’s stock after buying an additional 529,182 shares during the period. Varonis Systems comprises about 1.1% of Penserra Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Penserra Capital Management LLC owned approximately 1.38% of Varonis Systems worth $62,376,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Varonis Systems by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 515,939 shares of the technology company’s stock valued at $20,870,000 after buying an additional 25,512 shares during the period. Moody Aldrich Partners LLC boosted its position in Varonis Systems by 48.7% during the 1st quarter. Moody Aldrich Partners LLC now owns 138,137 shares of the technology company’s stock valued at $5,588,000 after buying an additional 45,240 shares during the period. Teacher Retirement System of Texas boosted its position in Varonis Systems by 161.5% during the 1st quarter. Teacher Retirement System of Texas now owns 16,440 shares of the technology company’s stock valued at $665,000 after buying an additional 10,152 shares during the period. Peregrine Capital Management LLC boosted its position in Varonis Systems by 9.8% during the 1st quarter. Peregrine Capital Management LLC now owns 293,443 shares of the technology company’s stock valued at $11,870,000 after buying an additional 26,138 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 1,323 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on VRNS. Barclays dropped their price target on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Morgan Stanley dropped their target price on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, March 28th. UBS Group raised their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus price target of $55.06.

Varonis Systems Trading Up 2.2%

Shares of NASDAQ VRNS opened at $51.15 on Friday. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The stock has a market cap of $5.72 billion, a P/E ratio of -63.15 and a beta of 0.76. The firm has a 50-day moving average of $47.75 and a 200 day moving average of $44.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). The firm had revenue of $136.42 million for the quarter, compared to the consensus estimate of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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.