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

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

Several other institutional investors also recently bought and sold shares of the company. Diversified Trust Co purchased a new stake in Varonis Systems during the 2nd quarter valued at $575,000. Swedbank AB purchased a new stake in shares of Varonis Systems during the first quarter valued at $3,344,000. Harbor Capital Advisors Inc. increased its holdings in Varonis Systems by 562.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock worth $928,000 after buying an additional 16,416 shares in the last quarter. Lisanti Capital Growth LLC raised its position in Varonis Systems by 17.0% in the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock worth $4,198,000 after buying an additional 10,820 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 acquiring an additional 155,040 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VRNS. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $60.00 price target (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Wells Fargo & Company upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. UBS Group raised their target price on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna upped their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Varonis Systems Trading Up 0.7 %

VRNS opened at $50.31 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock’s fifty day moving average is $55.11 and its two-hundred day moving average is $50.77. The company has a market capitalization of $5.66 billion, a P/E ratio of -67.08 and a beta of 0.82. Varonis Systems, Inc. has a 52 week low of $39.31 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.22) earnings per share. Analysts forecast that Varonis Systems, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

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

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.