Varonis Systems, Inc. (NASDAQ:VRNS) Position Reduced by Jennison Associates LLC

Jennison Associates LLC reduced its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778,916 shares of the technology company’s stock after selling 57,733 shares during the period. Jennison Associates LLC owned about 0.71% of Varonis Systems worth $35,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Handelsbanken Fonder AB raised its position in shares of Varonis Systems by 23.9% during the 4th quarter. Handelsbanken Fonder AB now owns 21,800 shares of the technology company’s stock valued at $987,000 after acquiring an additional 4,200 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Varonis Systems by 31.0% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 486,510 shares of the technology company’s stock worth $22,029,000 after purchasing an additional 115,000 shares during the period. Xponance Inc. acquired a new stake in shares of Varonis Systems during the fourth quarter worth $300,000. Strs Ohio lifted its position in shares of Varonis Systems by 61.4% in the 4th quarter. Strs Ohio now owns 11,300 shares of the technology company’s stock worth $511,000 after buying an additional 4,300 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Varonis Systems in the 4th quarter valued at about $219,000. Institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other news, VP Dov Gottlieb sold 43,091 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the sale, the vice president now owns 227,654 shares in the company, valued at $10,931,945.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ofer Segev sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dov Gottlieb sold 43,091 shares of Varonis Systems stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total value of $2,069,229.82. Following the transaction, the vice president now owns 227,654 shares in the company, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. Insiders sold a total of 372,419 shares of company stock worth $18,571,413 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

VRNS has been the topic of several research reports. Piper Sandler increased their price objective on shares of Varonis Systems from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Robert W. Baird raised their price target on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price objective on Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Wells Fargo & Company increased their target price on Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, DA Davidson reissued a “neutral” rating and set a $45.00 price target (up previously from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.81.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS opened at $44.87 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $47.72 and a 200-day moving average of $43.43. Varonis Systems, Inc. has a one year low of $22.34 and a one year high of $52.88.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. Research analysts forecast that Varonis Systems, Inc. will post -0.96 EPS for the current year.

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.