Assenagon Asset Management S.A. Lowers Position in Varonis Systems, Inc. $VRNS

Key Points

• Assenagon Asset Management cut its Varonis Systems stake by 75.5% in the second quarter, selling 53,686 shares and retaining 17,394 shares valued at approximately $730,000. Institutional investors collectively own 95.65% of the company.
• Varonis reported quarterly revenue of $180.02 million, up 18.3% year over year, and EPS of $0.04, exceeding analysts’ $0.01 estimate. Despite the earnings beat, the company posted a negative net margin of 20.55%.
• Analysts maintain a generally positive outlook, with 17 Buy, six Hold, and one Sell rating; the stock has a consensus rating of “Moderate Buy” and a target price of $49.05.

Assenagon Asset Management S.A. cut its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 75.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,394 shares of the technology company's stock after selling 53,686 shares during the period. Assenagon Asset Management S.A.'s holdings in Varonis Systems were worth $730,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Varonis Systems by 161.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company's stock valued at $29,000 after purchasing an additional 839 shares during the period. Empowered Funds LLC purchased a new stake in shares of Varonis Systems during the 4th quarter valued at $37,000. Fifth Third Bancorp raised its stake in shares of Varonis Systems by 10,694.1% during the 1st quarter. Fifth Third Bancorp now owns 1,835 shares of the technology company's stock worth $39,000 after purchasing an additional 1,818 shares during the period. Essential Partners LLC raised its stake in shares of Varonis Systems by 72.5% during the 1st quarter. Essential Partners LLC now owns 2,054 shares of the technology company's stock worth $44,000 after purchasing an additional 863 shares during the period. Finally, First Horizon Corp boosted its holdings in shares of Varonis Systems by 121.7% in the 4th quarter. First Horizon Corp now owns 1,740 shares of the technology company's stock worth $57,000 after buying an additional 955 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Trading Down 1.8%

Shares of Varonis Systems stock opened at $44.99 on Friday. The company's 50-day moving average price is $41.23 and its 200-day moving average price is $31.33. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -36.58 and a beta of 0.83. Varonis Systems, Inc. has a 12-month low of $19.70 and a 12-month high of $63.90.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, July 28th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. Varonis Systems had a negative net margin of 20.55% and a negative return on equity of 19.18%. The business had revenue of $180.02 million for the quarter, compared to analysts' expectations of $176.83 million. During the same period in the prior year, the company posted $0.03 EPS. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. Varonis Systems has set its FY 2026 guidance at 0.140-0.150 EPS and its Q3 2026 guidance at 0.020-0.030 EPS. On average, equities analysts expect that Varonis Systems, Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. DA Davidson raised their price target on shares of Varonis Systems from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on Varonis Systems from $39.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Barclays reduced their price objective on Varonis Systems from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. KeyCorp began coverage on Varonis Systems in a research report on Tuesday, May 26th. They issued a "sector weight" rating for the company. Finally, Wells Fargo & Company boosted their target price on Varonis Systems from $35.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, July 20th. Seventeen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $49.05.

Varonis Systems Profile

Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company's flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.

Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source