Thematics Asset Management Sells 78,000 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Thematics Asset Management decreased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 14.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,000 shares of the technology company’s stock after selling 78,000 shares during the quarter. Thematics Asset Management’s holdings in Varonis Systems were worth $20,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRNS. William Blair Investment Management LLC increased its stake in Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock valued at $101,750,000 after buying an additional 52,971 shares during the last quarter. Barclays PLC grew its holdings in shares of Varonis Systems by 10.0% in the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after acquiring an additional 35,274 shares in the last quarter. Advantage Alpha Capital Partners LP grew its holdings in shares of Varonis Systems by 30.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock valued at $4,038,000 after acquiring an additional 21,040 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VRNS shares. Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Friday, March 28th. StockNews.com lowered shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective for the company. Piper Sandler dropped their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup decreased their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $57.11.

Varonis Systems Stock Performance

Varonis Systems stock opened at $40.39 on Friday. The firm’s 50 day simple moving average is $41.42 and its 200 day simple moving average is $46.64. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The firm has a market capitalization of $4.55 billion, a PE ratio of -46.96 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. As a group, analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has authorized a stock buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management 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.