This Small-Cap Manager Just Sold Its Entire $110 Million Stake in a Data Security Company

2026-03-06 16:10:40 ET

Hood River Capital Management exited its entire stake in Varonis Systems (NASDAQ:VRNS) , selling 1,908,011 shares in the fourth quarter for an estimated $109.65 million based on quarterly average pricing, according to a February 17, 2026, SEC filing.

According to a recent SEC filing dated February 17, 2026, Hood River Capital Management LLC liquidated its entire position in Varonis Systems during the fourth quarter of 2025. The firm sold all 1,908,011 shares for an estimated transaction value of $109.65 million, based on the average share price during the quarter. The quarter-end value of the stake decreased by $109.65 million, reflecting both the share sale and stock price movement.

Varonis Systems is a leading provider of infrastructure software focused on securing and managing enterprise data both on-premises and in the cloud. The company leverages advanced analytics and automation to help organizations protect sensitive information and intellectual property. Its scalable platform and broad product suite position it as a key player in enterprise data security and compliance.

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