Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,084,651 shares of the technology company's stock after selling 264,813 shares during the quarter. Driehaus Capital Management LLC owned 0.96% of Varonis Systems worth $48,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Varonis Systems during the 4th quarter worth $36,000. Johnson Financial Group Inc. purchased a new position in Varonis Systems in the fourth quarter valued at approximately $61,000. Transce3nd LLC purchased a new stake in shares of Varonis Systems during the 4th quarter worth approximately $62,000. New Age Alpha Advisors LLC acquired a new position in shares of Varonis Systems in the 4th quarter valued at $70,000. Finally, Pacer Advisors Inc. lifted its position in Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after acquiring an additional 603 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of research reports. JPMorgan Chase & Co. lowered 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 reduced their target price on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Citigroup dropped their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a report on Wednesday. Finally, Barclays decreased their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and an average target price of $55.06.

Varonis Systems Price Performance

NASDAQ VRNS opened at $45.27 on Thursday. The company has a 50 day simple moving average of $41.20 and a 200-day simple moving average of $45.31. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -52.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly 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). 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 for the quarter, compared to analyst estimates of $133.10 million. During the same quarter last year, the business earned ($0.03) EPS. The company's revenue for the quarter was up 19.6% on a year-over-year basis. Equities research analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has authorized a stock buyback program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Varonis Systems Company 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.

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