Van ECK Associates Corp Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Van ECK Associates Corp acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 33,908 shares of the technology company's stock, valued at approximately $1,507,000.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP raised its stake in Varonis Systems by 61.4% during the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company's stock valued at $6,422,000 after purchasing an additional 43,258 shares during the period. Lisanti Capital Growth LLC raised its stake in Varonis Systems by 17.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company's stock valued at $4,198,000 after purchasing an additional 10,820 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Varonis Systems by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company's stock valued at $19,802,000 after purchasing an additional 44,826 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Varonis Systems during the 3rd quarter valued at approximately $1,872,000. Finally, Barclays PLC raised its stake in Varonis Systems by 10.0% during the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after purchasing an additional 35,274 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

VRNS opened at $42.97 on Friday. The business has a fifty day moving average of $44.61 and a 200 day moving average of $50.75. Varonis Systems, Inc. has a 52-week low of $39.62 and a 52-week high of $60.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.84 billion, a P/E ratio of -49.96 and a beta of 0.83.

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 (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has initiated a share buyback plan on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Cantor Fitzgerald assumed coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Jefferies Financial Group reduced their price objective on Varonis Systems from $60.00 to $50.00 and set a "hold" rating on the stock in a research note on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Five 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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