Jennison Associates LLC Cuts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Jennison Associates LLC trimmed its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 623,481 shares of the technology company's stock after selling 11,617 shares during the quarter. Jennison Associates LLC owned about 0.55% of Varonis Systems worth $27,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC increased its stake in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after acquiring an additional 423 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after acquiring an additional 603 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after purchasing an additional 2,442 shares during the period. KBC Group NV grew its position in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after purchasing an additional 663 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Varonis Systems in the 3rd quarter valued at approximately $184,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Trading Up 1.4 %

VRNS stock traded up $0.58 during mid-day trading on Friday, reaching $40.59. The company's stock had a trading volume of 2,496,127 shares, compared to its average volume of 2,199,414. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -47.20 and a beta of 0.83. The business's 50 day moving average price is $45.68 and its 200 day moving average price is $51.18. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 12 month low of $39.62 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) 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 20.45%. On average, equities research analysts predict that Varonis Systems, Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on 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 of the company's stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Citigroup reduced their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald assumed coverage on Varonis Systems in a research report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target for the company. Wells Fargo & Company reduced their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, DA Davidson reduced their price target on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.38.

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.