HighTower Advisors LLC acquired a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,221 shares of the technology company's stock, valued at approximately $365,000.
A number of other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in shares of Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock worth $50,026,000 after purchasing an additional 995,274 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Varonis Systems in the fourth quarter valued at approximately $21,860,000. Wealthfront Advisers LLC acquired a new stake in shares of Varonis Systems in the fourth quarter worth approximately $17,088,000. Two Sigma Advisers LP increased its position in shares of Varonis Systems by 46.7% during the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company's stock worth $47,415,000 after purchasing an additional 267,000 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after buying an additional 147,081 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on VRNS. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target on the stock. Jefferies Financial Group cut their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday. Finally, Piper Sandler lowered their target price on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.53.
Check Out Our Latest Stock Report on Varonis Systems
Varonis Systems Stock Performance
VRNS stock traded down $1.08 during trading on Thursday, hitting $40.48. The company had a trading volume of 1,429,646 shares, compared to its average volume of 1,475,882. Varonis Systems, Inc. has a 1-year low of $39.10 and a 1-year high of $60.58. The firm has a 50-day moving average price of $42.48 and a 200-day moving average price of $48.08. 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 $4.56 billion, a PE ratio of -47.07 and a beta of 0.76.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. On average, analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.
Varonis Systems announced that its board has approved a share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically 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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