Inspire Advisors LLC Buys Shares of 41,994 Varonis Systems, Inc. (NASDAQ:VRNS)

Inspire Advisors LLC bought a new position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,994 shares of the technology company's stock, valued at approximately $1,866,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRNS. Virtue Capital Management LLC lifted its holdings in shares of Varonis Systems by 2.3% in the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock worth $919,000 after purchasing an additional 364 shares during the last quarter. Bailard Inc. increased its position in Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock worth $4,160,000 after buying an additional 417 shares during the period. Farther Finance Advisors LLC increased its position in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after buying an additional 423 shares during the period. Arizona State Retirement System lifted its stake in Varonis Systems by 1.3% in the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after buying an additional 425 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after acquiring an additional 603 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $0.78 on Thursday, reaching $39.16. 1,278,058 shares of the company traded hands, compared to its average volume of 1,400,206. The stock has a market capitalization of $4.41 billion, a PE ratio of -45.53 and a beta of 0.85. 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 company's 50 day moving average is $43.44 and its 200-day moving average is $49.39. Varonis Systems, Inc. has a fifty-two week low of $39.11 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. As a group, analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has approved a stock buyback plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on VRNS. Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Cantor Fitzgerald initiated coverage on Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target on the stock. Citigroup reduced their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Wells Fargo & Company cut their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Finally, DA Davidson decreased their price target on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Varonis Systems Company Profile

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.