Jennison Associates LLC Sells 111,993 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Jennison Associates LLC lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 511,488 shares of the technology company's stock after selling 111,993 shares during the quarter. Jennison Associates LLC owned about 0.46% of Varonis Systems worth $20,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRNS. Vanguard Group Inc. grew its stake in shares of Varonis Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after buying an additional 193,210 shares during the last quarter. First Trust Advisors LP lifted its holdings 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 worth $111,145,000 after buying an additional 113,573 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Varonis Systems by 1.3% during the fourth 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 during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Varonis Systems by 12.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company's stock valued at $94,053,000 after purchasing an additional 231,998 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Varonis Systems by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock valued at $86,807,000 after purchasing an additional 431,306 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Trading Up 1.4%

NASDAQ VRNS opened at $51.30 on Monday. The company has a fifty day simple moving average of $49.19 and a two-hundred day simple moving average of $44.87. The stock has a market cap of $5.74 billion, a P/E ratio of -63.33 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 current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The business had revenue of $136.42 million for 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%. The company's revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the business earned ($0.03) EPS. On average, analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. 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. Royal Bank Of Canada increased their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Barclays upped their target price on shares of Varonis Systems from $54.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Six research analysts have rated the stock with a hold rating, thirteen have issued 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 an average price target of $55.50.

Insider Activity at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the director directly owned 131,666 shares in the company, valued at approximately $6,583,300. The trade was a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding VRNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varonis Systems, Inc. (NASDAQ:VRNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.