Jennison Associates LLC Sells 11,617 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Jennison Associates LLC lessened its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 623,481 shares of the technology company’s stock after selling 11,617 shares during the quarter. Jennison Associates LLC’s holdings in Varonis Systems were worth $27,701,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of VRNS. Assenagon Asset Management S.A. lifted its holdings in shares of Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after acquiring an additional 995,274 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Varonis Systems during the 3rd quarter worth about $17,419,000. Two Sigma Advisers LP lifted its holdings in Varonis Systems by 46.7% during the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after purchasing an additional 267,000 shares during the last quarter. Thematics Asset Management boosted its position in Varonis Systems by 40.2% in the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after buying an additional 152,000 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after buying an additional 147,081 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Trading Up 2.0 %

NASDAQ VRNS opened at $46.84 on Wednesday. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The stock has a 50-day simple moving average of $46.19 and a 200 day simple moving average of $51.36. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $5.27 billion, a PE ratio of -62.45 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. Research analysts forecast that Varonis Systems, Inc. will post -0.7 EPS for the current year.

Insider Transactions at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on VRNS shares. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Jefferies Financial Group reduced their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Piper Sandler reduced their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group raised their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Varonis Systems 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.