Clearbridge Investments LLC Sells 473,531 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Clearbridge Investments LLC decreased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,569,276 shares of the technology company's stock after selling 473,531 shares during the period. Clearbridge Investments LLC owned approximately 2.28% of Varonis Systems worth $114,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its holdings in Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after buying an additional 52,971 shares in the last quarter. Barclays PLC lifted its position in shares of Varonis Systems by 10.0% during the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after acquiring an additional 35,274 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its position in shares of Varonis Systems by 30.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock valued at $4,038,000 after acquiring an additional 21,040 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Varonis Systems by 88.4% during the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company's stock worth $5,957,000 after acquiring an additional 49,472 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Jefferies Financial Group decreased their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research report on Friday, March 28th. DA Davidson reduced their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.53.

Varonis Systems Stock Down 2.6 %

Shares of VRNS traded down $1.09 during midday trading on Thursday, reaching $40.47. 908,032 shares of the stock were exchanged, compared to its average volume of 1,473,992. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -46.92 and a beta of 0.76. The firm has a 50 day simple moving average of $42.48 and a 200-day simple moving average of $48.08. Varonis Systems, Inc. has a 12-month low of $39.10 and a 12-month high of $60.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has authorized a share repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.