Wellington Management Group LLP Reduces Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Wellington Management Group LLP trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,557 shares of the technology company's stock after selling 103,011 shares during the period. Wellington Management Group LLP owned approximately 0.30% of Varonis Systems worth $15,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in shares of Varonis Systems by 7.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock worth $193,000 after purchasing an additional 298 shares during the last quarter. Teza Capital Management LLC raised its holdings in shares of Varonis Systems by 3.1% during the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock worth $437,000 after purchasing an additional 299 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Varonis Systems by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock worth $512,000 after purchasing an additional 365 shares during the last quarter. Bailard Inc. raised its holdings in shares of Varonis Systems by 0.4% during the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock worth $4,160,000 after purchasing an additional 417 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Varonis Systems by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after purchasing an additional 424 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Up 1.2%

NASDAQ VRNS traded up $0.58 on Thursday, hitting $50.54. 130,940 shares of the stock were exchanged, compared to its average volume of 1,572,242. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The company has a market cap of $5.66 billion, a PE ratio of -58.74 and a beta of 0.79. The company has a 50-day moving average price of $43.36 and a 200-day moving average price of $44.30.

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). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The company had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The company's quarterly revenue was up 19.6% on a year-over-year basis. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has authorized a stock buyback plan on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the firm'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 completion of the transaction, the director now directly owns 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on VRNS shares. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Morgan Stanley dropped their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Barclays dropped their target price on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Six 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.06.

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.