Vanguard Group Inc. Purchases 193,210 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Vanguard Group Inc. boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,246,769 shares of the technology company's stock after acquiring an additional 193,210 shares during the period. Vanguard Group Inc. owned 10.89% of Varonis Systems worth $544,124,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Varonis Systems by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock worth $147,801,000 after acquiring an additional 29,050 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Varonis Systems by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after purchasing an additional 52,971 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after purchasing an additional 147,081 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock valued at $50,026,000 after purchasing an additional 995,274 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Varonis Systems by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 971,844 shares of the technology company's stock valued at $43,179,000 after buying an additional 8,921 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

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Varonis Systems Stock Performance

NASDAQ VRNS traded down $2.12 during trading on Friday, hitting $38.36. 2,294,460 shares of the company's stock traded hands, compared to its average volume of 1,483,556. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -44.60 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50 day moving average of $42.29 and a 200-day moving average of $47.88. Varonis Systems, Inc. has a 12-month low of $37.81 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) EPS 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 anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a stock 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 buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

VRNS has been the subject of a number of analyst reports. Citigroup lowered their price target 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. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. DA Davidson dropped their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. Morgan Stanley assumed coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Jefferies Financial Group dropped their target price on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $58.53.

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.