Fox Run Management L.L.C. purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,790 shares of the technology company's stock, valued at approximately $1,723,000. Varonis Systems accounts for about 0.3% of Fox Run Management L.L.C.'s portfolio, making the stock its 27th biggest holding.
Other hedge funds also recently modified their holdings of the company. Virtue Capital Management LLC increased its holdings in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock worth $919,000 after acquiring an additional 364 shares in the last quarter. Bailard Inc. increased its stake in Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after buying an additional 417 shares during the last quarter. Arizona State Retirement System boosted its position in Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after purchasing an additional 425 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Varonis Systems by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company's stock worth $3,352,000 after purchasing an additional 600 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares during the last quarter. Institutional investors own 95.65% of the company's stock.
Analyst Ratings Changes
VRNS has been the topic of several research reports. DA Davidson decreased their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Thursday, December 12th. StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Wells Fargo & Company decreased their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Finally, Morgan Stanley initiated coverage on Varonis Systems in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.38.
Check Out Our Latest Stock Analysis on VRNS
Varonis Systems Price Performance
Shares of NASDAQ VRNS traded down $0.35 during mid-day trading on Wednesday, reaching $41.69. The company's stock had a trading volume of 1,454,204 shares, compared to its average volume of 1,414,108. Varonis Systems, Inc. has a 52 week low of $39.11 and a 52 week high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $4.69 billion, a PE ratio of -48.48 and a beta of 0.85. The stock has a fifty day moving average of $42.92 and a two-hundred day moving average of $48.51.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its 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%. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.
Varonis Systems announced that its Board of Directors has authorized a stock repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.
About Varonis Systems
(
Free Report)
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.
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