Russell Investments Group Ltd. lessened its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 84.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,984 shares of the technology company's stock after selling 155,280 shares during the quarter. Russell Investments Group Ltd.'s holdings in Varonis Systems were worth $1,243,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Barclays PLC grew its position in Varonis Systems by 10.0% in the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after acquiring an additional 35,274 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Varonis Systems in the third quarter worth about $232,000. Franklin Resources Inc. grew its stake in Varonis Systems by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock worth $2,383,000 after acquiring an additional 5,031 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after acquiring an additional 147,081 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of Varonis Systems by 12.2% in the fourth quarter. Diversified Trust Co now owns 15,113 shares of the technology company's stock valued at $671,000 after purchasing an additional 1,639 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.
Varonis Systems Stock Up 0.1 %
Shares of VRNS traded up $0.03 during mid-day trading on Friday, hitting $41.68. 148,320 shares of the company traded hands, compared to its average volume of 1,512,940. The business has a 50 day moving average of $41.17 and a 200 day moving average of $46.28. The company has a market capitalization of $4.69 billion, a PE ratio of -48.48 and a beta of 0.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58.
Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.
Varonis Systems announced that its board has authorized a stock buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on VRNS shares. Citigroup decreased their target price 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. Morgan Stanley lowered their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler reduced their price target on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Barclays dropped their price objective 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, April 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. 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 assigned a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.11.
Check Out Our Latest Stock Analysis 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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