Magnetar Financial LLC boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 477.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,011 shares of the technology company's stock after buying an additional 56,234 shares during the period. Magnetar Financial LLC owned approximately 0.06% of Varonis Systems worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. raised its stake 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 valued at $118,000 after buying an additional 603 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Varonis Systems in the third quarter valued at approximately $184,000. KBC Group NV lifted its holdings 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. R Squared Ltd acquired a new stake in shares of Varonis Systems during the 4th quarter worth approximately $194,000. Finally, Atom Investors LP purchased a new position in shares of Varonis Systems during the 3rd quarter valued at approximately $224,000. Institutional investors and hedge funds own 95.65% of the company's stock.
Varonis Systems Price Performance
VRNS traded up $0.66 on Tuesday, reaching $42.04. 1,835,102 shares of the company's stock were exchanged, compared to its average volume of 1,407,297. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The stock has a market cap of $4.73 billion, a PE ratio of -48.88 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 stock's fifty day moving average price is $42.99 and its 200-day moving average price is $48.57.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its 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%. Sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.
Varonis Systems announced that its Board of Directors has initiated a share repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on VRNS. Cantor Fitzgerald began coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target on the stock. DA Davidson dropped their target price on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. Jefferies Financial Group cut their price target on Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Piper Sandler dropped their price objective on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems currently has an average rating of "Moderate Buy" and an average target price of $59.38.
Check Out Our Latest Report on Varonis Systems
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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