Intrinsic Edge Capital Management LLC lessened its stake in Varonis Systems Inc (NASDAQ:VRNS) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 264,665 shares of the technology company’s stock after selling 63,013 shares during the quarter. Varonis Systems accounts for about 3.0% of Intrinsic Edge Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Intrinsic Edge Capital Management LLC owned about 0.96% of Varonis Systems worth $9,846,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in VRNS. Russell Investments Group Ltd. boosted its holdings in shares of Varonis Systems by 355.9% in the second quarter. Russell Investments Group Ltd. now owns 633,852 shares of the technology company’s stock valued at $23,579,000 after buying an additional 494,824 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Varonis Systems by 4,112.1% in the second quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock valued at $16,766,000 after buying an additional 440,000 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Varonis Systems by 316.7% in the second quarter. UBS Asset Management Americas Inc. now owns 384,434 shares of the technology company’s stock valued at $14,301,000 after buying an additional 292,178 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Varonis Systems by 146.2% in the second quarter. William Blair Investment Management LLC now owns 301,805 shares of the technology company’s stock valued at $11,227,000 after buying an additional 179,199 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in shares of Varonis Systems in the first quarter valued at approximately $5,694,000. Institutional investors own 82.41% of the company’s stock.

In related news, CEO Yakov Faitelson sold 7,000 shares of Varonis Systems stock in a transaction on Monday, July 10th. The shares were sold at an average price of $38.00, for a total value of $266,000.00. Following the completion of the sale, the chief executive officer now owns 370,989 shares of the company’s stock, valued at approximately $14,097,582. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gili Iohan sold 10,000 shares of Varonis Systems stock in a transaction on Monday, July 10th. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the sale, the director now directly owns 52,932 shares of the company’s stock, valued at approximately $2,011,416. The disclosure for this sale can be found here. In the last three months, insiders sold 609,977 shares of company stock valued at $24,359,243. 19.50% of the stock is currently owned by insiders.

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Shares of Varonis Systems Inc (VRNS) traded up 0.058% on Thursday, reaching $43.275. 17,074 shares of the company traded hands. The firm has a 50-day moving average price of $39.90 and a 200 day moving average price of $36.23. Varonis Systems Inc has a one year low of $24.45 and a one year high of $43.52. The company’s market capitalization is $1.19 billion.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 10.04% and a negative return on equity of 25.01%. The business had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter last year, the firm posted ($0.12) EPS. Varonis Systems’s revenue was up 30.1% compared to the same quarter last year. Equities analysts forecast that Varonis Systems Inc will post $0.09 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price target (up previously from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. BidaskClub upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Zacks Investment Research cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC upped their price target on shares of Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 14th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 price target (up previously from $41.00) on shares of Varonis Systems in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Varonis Systems currently has a consensus rating of “Buy” and an average target price of $43.20.

Varonis Systems Company Profile

Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.

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

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