Assenagon Asset Management S.A. Increases Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Assenagon Asset Management S.A. grew its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 761.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,125,960 shares of the technology company’s stock after acquiring an additional 995,274 shares during the period. Assenagon Asset Management S.A.’s holdings in Varonis Systems were worth $50,026,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares during the period. International Assets Investment Management LLC lifted its position in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the period. KBC Group NV boosted its stake in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems during the third quarter valued at about $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Varonis Systems in the second quarter worth about $215,000. 95.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several research reports. Piper Sandler reduced their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Barclays lifted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.24.

Varonis Systems Stock Down 0.7 %

Varonis Systems stock opened at $45.11 on Thursday. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The stock has a fifty day simple moving average of $47.88 and a two-hundred day simple moving average of $51.64. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -60.15 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. Varonis Systems’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the company earned ($0.22) EPS. Equities analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current fiscal year.

Insider Activity at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by 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.