Jennison Associates LLC Sells 147,191 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Jennison Associates LLC lessened its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 18.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 635,098 shares of the technology company's stock after selling 147,191 shares during the period. Jennison Associates LLC owned 0.56% of Varonis Systems worth $35,883,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VRNS. Vanguard Group Inc. grew its holdings in Varonis Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company's stock valued at $530,978,000 after buying an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company's stock valued at $137,885,000 after purchasing an additional 127,129 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company's stock worth $106,396,000 after acquiring an additional 23,231 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Hood River Capital Management LLC grew its holdings in shares of Varonis Systems by 40.8% during the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock worth $76,032,000 after purchasing an additional 466,688 shares during the period. Institutional investors own 95.65% of the company's stock.

Insider Activity at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares of the company's stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman James O'boyle sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Varonis Systems Price Performance

VRNS stock traded down $0.15 during trading on Friday, hitting $50.05. The company had a trading volume of 920,609 shares, compared to its average volume of 1,356,649. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a 50-day moving average price of $55.06 and a 200-day moving average price of $50.77. Varonis Systems, Inc. has a 12 month low of $39.56 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The firm's revenue was up 21.1% on a year-over-year basis. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRNS. Needham & Company LLC reissued a "hold" rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Finally, Susquehanna raised their target price on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.67.

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.