Interval Partners LP Makes New $1.04 Million Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Interval Partners LP bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,754 shares of the technology company’s stock, valued at approximately $1,044,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRNS. Dimensional Fund Advisors LP boosted its holdings in Varonis Systems by 18.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,532 shares of the technology company’s stock worth $50,195,000 after buying an additional 173,325 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Varonis Systems during the fourth quarter worth about $213,000. Quadrant Capital Group LLC boosted its holdings in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares during the last quarter. Norges Bank bought a new position in Varonis Systems during the fourth quarter worth about $50,723,000. Finally, Assetmark Inc. bought a new position in Varonis Systems during the fourth quarter worth about $98,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $57.05 on Wednesday. Varonis Systems, Inc. has a twelve month low of $29.47 and a twelve month high of $58.32. The stock’s 50 day moving average price is $53.29 and its two-hundred day moving average price is $48.23. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The firm had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) EPS. Analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

VRNS has been the topic of a number of recent analyst reports. Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $60.00 in a report on Tuesday, July 30th. Susquehanna lifted their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $50.00 to $54.00 in a report on Friday, June 14th. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price objective on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

About Varonis Systems

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.