Allspring Global Investments Holdings LLC Trims Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 46.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 231,430 shares of the technology company's stock after selling 202,693 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Varonis Systems worth $9,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock worth $544,124,000 after buying an additional 193,210 shares in the last quarter. First Trust Advisors LP increased its holdings in Varonis Systems by 4.8% in the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock worth $111,145,000 after acquiring an additional 113,573 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after acquiring an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Varonis Systems by 1.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock worth $101,636,000 after acquiring an additional 29,852 shares in the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Varonis Systems by 12.3% in the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock worth $94,053,000 after purchasing an additional 231,998 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. cut their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Morgan Stanley cut their target price on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays cut their target price on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a report on Tuesday, June 10th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.06.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company's stock.

Varonis Systems Stock Up 2.2%

Shares of VRNS stock traded up $1.10 during mid-day trading on Friday, hitting $51.15. The stock had a trading volume of 1,066,983 shares, compared to its average volume of 1,518,670. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The firm has a market capitalization of $5.73 billion, a P/E ratio of -63.15 and a beta of 0.76. The firm's 50-day moving average is $47.75 and its two-hundred day moving average is $44.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The business had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. Varonis Systems's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. On average, analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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.