Jennison Associates LLC Sells 57,733 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Jennison Associates LLC trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 6.9% in the fourth quarter, HoldingsChannel reports. The firm owned 778,916 shares of the technology company’s stock after selling 57,733 shares during the period. Jennison Associates LLC’s holdings in Varonis Systems were worth $35,269,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of VRNS. Lord Abbett & CO. LLC acquired a new stake in shares of Varonis Systems in the third quarter valued at $36,317,000. Cadian Capital Management LP increased its position in Varonis Systems by 34.6% in the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock valued at $109,160,000 after acquiring an additional 919,334 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Varonis Systems by 30.0% in the third quarter. Loomis Sayles & Co. L P now owns 1,424,248 shares of the technology company’s stock worth $43,496,000 after acquiring an additional 329,045 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Varonis Systems by 6.7% during the third quarter. William Blair Investment Management LLC now owns 3,252,160 shares of the technology company’s stock worth $99,321,000 after purchasing an additional 205,105 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Varonis Systems during the third quarter valued at approximately $5,757,000. Institutional investors own 95.65% of the company’s stock.

Insider Activity at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 188,503 shares of Varonis Systems stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.88, for a total value of $9,402,529.64. Following the transaction, the chief financial officer now owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Varonis Systems news, CFO Guy Melamed sold 188,503 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.88, for a total transaction of $9,402,529.64. Following the completion of the transaction, the chief financial officer now owns 645,876 shares in the company, valued at approximately $32,216,294.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Bass sold 116,325 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $50.32, for a total value of $5,853,474.00. Following the completion of the sale, the executive vice president now owns 650,972 shares in the company, valued at $32,756,911.04. The disclosure for this sale can be found here. In the last three months, insiders sold 372,419 shares of company stock worth $18,571,413. 2.40% of the stock is owned by company insiders.

Varonis Systems Trading Up 0.2 %

Shares of VRNS stock opened at $44.87 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. Varonis Systems, Inc. has a 12-month low of $22.34 and a 12-month high of $52.88. The firm has a fifty day moving average of $47.72 and a 200-day moving average of $43.43.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. Sell-side analysts predict that Varonis Systems, Inc. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRNS. JMP Securities reiterated a “market outperform” rating and issued a $63.00 price objective on shares of Varonis Systems in a research report on Monday, February 5th. Wells Fargo & Company raised their price target on Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. DA Davidson reissued a “neutral” rating and set a $45.00 price objective (up from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Piper Sandler upped their target price on shares of Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Finally, Citigroup lifted their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.81.

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.