Handelsbanken Fonder AB raised its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 31.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,600 shares of the technology company's stock after purchasing an additional 6,800 shares during the period. Handelsbanken Fonder AB's holdings in Varonis Systems were worth $1,271,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Varonis Systems by 66.4% during the third quarter. Creative Planning now owns 24,265 shares of the technology company's stock worth $1,371,000 after buying an additional 9,681 shares during the period. International Assets Investment Management LLC raised its position in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after purchasing an additional 2,442 shares during the period. AMI Asset Management Corp acquired a new position in shares of Varonis Systems during the third quarter valued at about $485,000. Stephens Inc. AR bought a new position in Varonis Systems during the 3rd quarter valued at about $276,000. Finally, Farther Finance Advisors LLC raised its position in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after acquiring an additional 423 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have commented on VRNS. Needham & Company LLC restated a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Jefferies Financial Group decreased their target price on Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. StockNews.com cut Varonis Systems from a "hold" rating to a "sell" rating in a research report on Friday. Finally, DA Davidson dropped their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.38.
View Our Latest Research Report on VRNS
Varonis Systems Stock Up 1.1 %
Shares of NASDAQ:VRNS traded up $0.47 during midday trading on Friday, reaching $42.97. 1,164,229 shares of the company were exchanged, compared to its average volume of 1,383,330. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.84 billion, a PE ratio of -49.96 and a beta of 0.83. Varonis Systems, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $60.58. The stock has a fifty day simple moving average of $44.19 and a two-hundred day simple moving average of $50.31.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.
Varonis Systems announced that its Board of Directors has approved a share buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is 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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