Assenagon Asset Management S.A. Lowers Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Assenagon Asset Management S.A. reduced its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 97.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,946 shares of the technology company's stock after selling 1,102,014 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Varonis Systems were worth $969,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of VRNS. Vanguard Group Inc. boosted its holdings in shares of Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after acquiring an additional 193,210 shares in the last quarter. First Trust Advisors LP lifted its position in Varonis Systems by 4.8% in the fourth quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock valued at $111,145,000 after purchasing an additional 113,573 shares during the period. William Blair Investment Management LLC lifted its position in Varonis Systems by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock valued at $101,750,000 after purchasing an additional 52,971 shares during the period. Pictet Asset Management Holding SA boosted 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 valued at $101,636,000 after purchasing an additional 29,852 shares in the last quarter. Finally, Hood River Capital Management LLC increased its position in Varonis Systems by 12.3% during the 4th 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 during the period. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Morgan Stanley cut their price objective 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 reduced their target price on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Friday, March 28th. Finally, UBS Group increased their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Varonis Systems currently has an average rating of "Moderate Buy" and an average target price of $55.06.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded down $0.73 on Friday, hitting $48.98. The company's stock had a trading volume of 1,958,990 shares, compared to its average volume of 1,521,679. The stock has a 50 day moving average of $45.87 and a 200-day moving average of $44.29. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -60.47 and a beta of 0.76. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. 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 posted its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The company had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. Varonis Systems's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. As a group, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Insider Activity

In other news, Director Den Bosch Fred Van sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 131,666 shares of the company's stock, valued at $6,583,300. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.30% 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.