Kornitzer Capital Management Inc. KS Has $18.04 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Kornitzer Capital Management Inc. KS reduced its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 405,970 shares of the technology company's stock after selling 10,000 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.36% of Varonis Systems worth $18,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after purchasing an additional 423 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Varonis Systems by 29.5% during the 4th 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 period. International Assets Investment Management LLC boosted its stake in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV grew its position in Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after acquiring an additional 663 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems in the third quarter valued at $184,000. Institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Down 0.3 %

Varonis Systems stock traded down $0.12 during trading hours on Friday, reaching $42.97. 1,115,155 shares of the company's stock traded hands, compared to its average volume of 1,963,431. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of -49.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $60.58. The firm's 50 day moving average is $44.61 and its 200-day moving average is $50.75.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data 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 net margin of 17.38% and a negative return on equity of 20.35%. On average, analysts predict 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 repurchase program on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of 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. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Piper Sandler cut 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. Citigroup decreased their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.38.

About Varonis Systems

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.