Kopion Asset Management LLC Cuts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Kopion Asset Management LLC lessened its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,796 shares of the technology company’s stock after selling 3,040 shares during the period. Varonis Systems makes up 5.0% of Kopion Asset Management LLC’s portfolio, making the stock its 11th biggest position. Kopion Asset Management LLC owned about 0.14% of Varonis Systems worth $7,189,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRNS. Assenagon Asset Management S.A. grew its holdings in shares of Varonis Systems by 761.6% during 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 during the period. WCM Investment Management LLC acquired a new position in Varonis Systems during the third quarter valued at approximately $17,419,000. Squarepoint Ops LLC grew its stake in Varonis Systems by 167.9% during the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock worth $21,755,000 after buying an additional 284,236 shares during the period. Two Sigma Advisers LP increased its position in shares of Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after acquiring an additional 267,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after acquiring an additional 228,589 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VRNS has been the subject of a number of research reports. Barclays upped their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group upped their target price on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald assumed coverage on Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price on the stock. Piper Sandler decreased their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Robert W. Baird lifted their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Insider Activity

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Varonis Systems Stock Up 1.2 %

Varonis Systems stock traded up $0.55 during midday trading on Wednesday, hitting $45.99. The stock had a trading volume of 15,689 shares, compared to its average volume of 1,189,727. 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 business has a fifty day moving average price of $48.05 and a 200 day moving average price of $51.69. Varonis Systems, Inc. has a 12 month low of $41.13 and a 12 month high of $60.58. The stock has a market cap of $5.17 billion, a P/E ratio of -61.32 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.22) EPS. Research analysts predict that Varonis Systems, Inc. will post -0.73 EPS for the current year.

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.