Jackson Square Partners LLC Buys 119,454 Shares of Varonis Systems Inc (NASDAQ:VRNS)
Jackson Square Partners LLC lifted its stake in Varonis Systems Inc (NASDAQ:VRNS) by 9.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,386,551 shares of the technology company’s stock after purchasing an additional 119,454 shares during the quarter. Jackson Square Partners LLC’s holdings in Varonis Systems were worth $82,680,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Northeast Financial Consultants Inc purchased a new position in Varonis Systems during the 1st quarter valued at approximately $209,000. Trexquant Investment LP grew its holdings in Varonis Systems by 52.8% during the 1st quarter. Trexquant Investment LP now owns 17,643 shares of the technology company’s stock valued at $1,052,000 after buying an additional 6,095 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Varonis Systems during the 1st quarter valued at approximately $83,000. Soma Equity Partners LP purchased a new position in Varonis Systems during the 1st quarter valued at approximately $35,778,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Varonis Systems by 8.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 18,471 shares of the technology company’s stock valued at $1,102,000 after buying an additional 1,402 shares in the last quarter. 89.57% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP David Bass sold 42,416 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the completion of the sale, the executive vice president now directly owns 202,833 shares of the company’s stock, valued at approximately $14,713,505.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, April 29th. The technology company reported ($0.68) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.04). The company had revenue of $56.40 million during the quarter, compared to analysts’ expectations of $59.36 million. Varonis Systems had a negative return on equity of 30.00% and a negative net margin of 13.24%. Varonis Systems’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. Equities analysts expect that Varonis Systems Inc will post -1.75 EPS for the current year.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub cut Varonis Systems from a “buy” rating to a “hold” rating in a report on Friday, June 7th. DA Davidson raised their price target on Varonis Systems to $78.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Jefferies Financial Group raised their price target on Varonis Systems from $73.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Stifel Nicolaus lifted their target price on Varonis Systems from $52.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $71.52.
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Varonis Systems Profile
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.
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