Wellington Management Group LLP Sells 477,278 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Wellington Management Group LLP decreased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 51.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 443,568 shares of the technology company’s stock after selling 477,278 shares during the period. Wellington Management Group LLP owned about 0.39% of Varonis Systems worth $25,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC bought a new stake in Varonis Systems in the third quarter valued at $17,419,000. Squarepoint Ops LLC boosted its holdings in Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after acquiring an additional 284,236 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after acquiring an additional 267,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in 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 valued at $38,361,000 after acquiring an additional 228,589 shares in the last quarter. Finally, Thematics Asset Management boosted its holdings in Varonis Systems by 40.2% in the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after acquiring an additional 152,000 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Varonis Systems Price Performance

VRNS opened at $47.10 on Friday. The stock has a 50-day moving average price of $53.30 and a 200-day moving average price of $51.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market cap of $5.30 billion, a PE ratio of -62.80 and a beta of 0.80. Varonis Systems, Inc. has a 1 year low of $41.13 and a 1 year high of $60.58.

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, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. Varonis Systems’s quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that Varonis Systems, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRNS has been the topic of several recent analyst reports. Piper Sandler lifted their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. 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. Wedbush reissued an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. Finally, Robert W. Baird raised their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.80.

Varonis Systems Company 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.