Teacher Retirement System of Texas Boosts Position in Varonis Systems Inc (VRNS)

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Teacher Retirement System of Texas boosted its stake in Varonis Systems Inc (NASDAQ:VRNS) by 68.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,710 shares of the technology company’s stock after acquiring an additional 2,325 shares during the quarter. Teacher Retirement System of Texas’ holdings in Varonis Systems were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Millennium Management LLC lifted its position in Varonis Systems by 22.6% in the 1st quarter. Millennium Management LLC now owns 1,014,780 shares of the technology company’s stock valued at $61,394,000 after acquiring an additional 187,356 shares in the last quarter. Emerald Advisers Inc. PA lifted its position in Varonis Systems by 1.4% in the 2nd quarter. Emerald Advisers Inc. PA now owns 708,319 shares of the technology company’s stock valued at $52,770,000 after acquiring an additional 9,610 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Varonis Systems by 3.2% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 605,440 shares of the technology company’s stock valued at $45,105,000 after acquiring an additional 18,748 shares in the last quarter. OppenheimerFunds Inc. lifted its position in Varonis Systems by 263.8% in the 1st quarter. OppenheimerFunds Inc. now owns 502,111 shares of the technology company’s stock valued at $30,379,000 after acquiring an additional 364,109 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its position in Varonis Systems by 185.1% in the 1st quarter. Eventide Asset Management LLC now owns 479,000 shares of the technology company’s stock valued at $28,980,000 after acquiring an additional 311,000 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:VRNS opened at $74.00 on Friday. Varonis Systems Inc has a one year low of $38.35 and a one year high of $83.10. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -145.70 and a beta of 0.74.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, July 30th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). Varonis Systems had a negative return on equity of 23.77% and a negative net margin of 10.52%. The business had revenue of $62.19 million for the quarter, compared to the consensus estimate of $62.20 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. sell-side analysts anticipate that Varonis Systems Inc will post -0.93 earnings per share for the current fiscal year.

Several research firms recently commented on VRNS. BidaskClub cut shares of Varonis Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Stifel Nicolaus boosted their price objective on shares of Varonis Systems from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, June 26th. Craig Hallum set a $68.00 price objective on shares of Varonis Systems and gave the company a “hold” rating in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, Morgan Stanley boosted their price target on shares of Varonis Systems from $63.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Monday, June 25th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $73.87.

In other news, Director Gili Iohan sold 17,931 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $81.69, for a total value of $1,464,783.39. Following the sale, the director now directly owns 15,429 shares of the company’s stock, valued at approximately $1,260,395.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas F. Mendoza bought 1,688 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was purchased at an average cost of $59.58 per share, for a total transaction of $100,571.04. Following the completion of the acquisition, the director now owns 22,511 shares in the company, valued at approximately $1,341,205.38. The disclosure for this purchase can be found here. Insiders have sold a total of 20,391 shares of company stock worth $1,643,589 over the last three months. Insiders own 4.20% of the company’s stock.

About Varonis Systems

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

Further Reading: Outstanding Shares and The Effect on Share Price

Want to see what other hedge funds are holding VRNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varonis Systems Inc (NASDAQ:VRNS).

Institutional Ownership by Quarter for Varonis Systems (NASDAQ:VRNS)

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