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

Thematics Asset Management reduced its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 452,000 shares of the technology company’s stock after selling 78,000 shares during the quarter. Thematics Asset Management owned 0.40% of Varonis Systems worth $20,082,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Varonis Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock valued at $544,124,000 after purchasing an additional 193,210 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Varonis Systems by 4.8% during the fourth quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company’s stock worth $111,145,000 after buying an additional 113,573 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock worth $101,750,000 after buying an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Varonis Systems by 1.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company’s stock valued at $101,636,000 after acquiring an additional 29,852 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Varonis Systems by 9.0% during the 3rd 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 in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup dropped their target price 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. Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target for the company. Jefferies Financial Group reduced their price objective on shares of 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, 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 report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.11.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $40.39 on Friday. The firm has a market capitalization of $4.55 billion, a P/E ratio of -46.96 and a beta of 0.76. The firm’s 50-day moving average price is $41.42 and its 200-day moving average price 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.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts anticipate 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 share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically a sign 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.