Assenagon Asset Management S.A. Has $969,000 Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Varonis Systems in the 4th quarter valued at $36,000. Johnson Financial Group Inc. acquired a new stake in Varonis Systems in the 4th quarter valued at $61,000. Transce3nd LLC acquired a new stake in Varonis Systems in the 4th quarter valued at $62,000. New Age Alpha Advisors LLC acquired a new stake in Varonis Systems in the 4th quarter valued at $70,000. Finally, NBC Securities Inc. increased its stake in Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after buying an additional 2,004 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Varonis Systems

In other news, Director Den Bosch Fred Van sold 6,000 shares of the company'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 transaction of $300,000.00. Following the completion of the sale, the director now owns 131,666 shares of the company's stock, valued at approximately $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $49.71 on Thursday. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of -61.37 and a beta of 0.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. The company has a 50-day simple moving average of $45.38 and a 200 day simple moving average of $44.31. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VRNS. Jefferies Financial Group lowered their price target on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Morgan Stanley lowered their price target on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a research note on Tuesday, June 10th. Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Friday, March 28th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

About Varonis Systems

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.

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