Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 137,005 shares of the technology company's stock after selling 9,227 shares during the period. Granahan Investment Management LLC owned approximately 0.12% of Varonis Systems worth $6,087,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Varonis Systems in the fourth quarter worth $56,561,000. Groupama Asset Managment purchased a new position in Varonis Systems during the 4th quarter valued at about $55,538,000. Assenagon Asset Management S.A. lifted its stake in Varonis Systems by 761.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock worth $50,026,000 after purchasing an additional 995,274 shares in the last quarter. Deutsche Bank AG grew its stake in Varonis Systems by 97.7% in the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock worth $59,467,000 after buying an additional 661,436 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Varonis Systems by 11,353.2% in the fourth quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company's stock valued at $23,917,000 after acquiring an additional 533,600 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price target on shares of Varonis Systems in a report on Wednesday, May 7th. Royal Bank of Canada lifted their target price 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. Jefferies Financial Group dropped their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Barclays lowered their target price on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six investment 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.06.

Varonis Systems Trading Up 0.4%

Shares of NASDAQ VRNS traded up $0.18 during trading on Thursday, reaching $45.90. The stock had a trading volume of 479,462 shares, compared to its average volume of 1,526,958. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $5.14 billion, a P/E ratio of -53.40 and a beta of 0.79. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The business's 50-day moving average price is $41.52 and its 200-day moving average price is $44.90.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. During the same quarter last year, the firm posted ($0.03) EPS. The company's revenue for the quarter was up 19.6% on a year-over-year basis. On average, equities research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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.