Phoenix Financial Ltd. boosted its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 34.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,138,578 shares of the technology company's stock after buying an additional 288,657 shares during the quarter. Phoenix Financial Ltd. owned approximately 1.01% of Varonis Systems worth $49,589,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in Varonis Systems in the fourth quarter worth $70,000. Pacer Advisors Inc. raised its stake in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after purchasing an additional 603 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Varonis Systems during the 3rd quarter worth about $232,000. R Squared Ltd acquired a new stake in Varonis Systems during the fourth quarter valued at approximately $194,000. Finally, KBC Group NV grew its position in Varonis Systems by 45.6% in the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.
Varonis Systems Trading Up 0.4 %
Shares of NASDAQ VRNS traded up $0.16 during midday trading on Tuesday, reaching $41.82. 254,856 shares of the stock were exchanged, compared to its average volume of 1,507,394. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The business has a 50-day simple moving average of $41.48 and a two-hundred day simple moving average of $46.99. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of -48.63 and a beta of 0.76.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted 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%. As a group, equities research 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 stock buyback program on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research firms recently commented on VRNS. StockNews.com lowered Varonis Systems from a "hold" rating to a "sell" rating in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley initiated coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Friday, March 28th. Finally, Barclays decreased their price target on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.76.
Check Out Our Latest Research Report on VRNS
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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