Varonis Systems (VRNS) Drops 7.3% on Anthropic AI Security Tool Launch

Varonis Systems Inc. (NASDAQ: VRNS) shares fell 7.3% to close at $23.72 on February 20, 2026. The decline followed Anthropic’s unveiling of Claude Code Security, a tool designed to autonomously scan codebases for vulnerabilities and suggest patches. Investors expressed concern that AI agents are shifting from support roles to direct substitutes for high-margin, proprietary security software. The stock is now down 26.5% year-to-date and trades 62.8% below its 52-week high of $63.31 from October 2025.