Principal Financial Group Inc. Has $74.87 Million Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Principal Financial Group Inc. cut its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,685,105 shares of the technology company's stock after selling 98,768 shares during the period. Principal Financial Group Inc. owned about 1.50% of Varonis Systems worth $74,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted 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 worth $29,000 after acquiring an additional 423 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of 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 purchasing an additional 2,442 shares during the period. Pacer Advisors Inc. increased its stake in 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 purchasing an additional 603 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Varonis Systems during the 3rd quarter worth approximately $184,000. Finally, KBC Group NV lifted its stake 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 buying an additional 663 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

VRNS stock traded down $0.12 during midday trading on Friday, reaching $42.97. 1,115,155 shares of the company were exchanged, compared to its average volume of 2,188,798. 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 business has a 50-day moving average price of $44.61 and a two-hundred day moving average price of $50.75. Varonis Systems, Inc. has a one year low of $39.62 and a one year high of $60.58. 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 (NASDAQ:VRNS - Get Free Report) last posted 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 return on equity of 20.35% and a negative net margin of 17.38%. Equities research analysts forecast 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 buyback program on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VRNS shares. Cantor Fitzgerald started coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price objective on the stock. DA Davidson dropped their price target on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price objective on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Piper Sandler dropped their target price on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Jefferies Financial Group decreased their price target on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.