Herald Investment Management Ltd Has $19.69 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Herald Investment Management Ltd trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,500 shares of the technology company's stock after selling 15,000 shares during the period. Varonis Systems makes up approximately 3.2% of Herald Investment Management Ltd's portfolio, making the stock its 7th biggest position. Herald Investment Management Ltd owned approximately 0.39% of Varonis Systems worth $19,691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRNS. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems in the 4th quarter valued at $70,000. Pacer Advisors Inc. raised its holdings 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 during the last quarter. R Squared Ltd purchased a new stake in shares of Varonis Systems in the fourth quarter valued at about $194,000. KBC Group NV lifted its position in shares of Varonis Systems by 45.6% during the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after purchasing an additional 1,488 shares in the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in Varonis Systems in the 4th quarter worth about $224,000. Institutional investors own 95.65% of the company's stock.

Analyst Ratings Changes

VRNS has been the topic of several research reports. Wells Fargo & Company lowered their price objective 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 dropped their price target on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group decreased their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.11.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded up $1.50 during midday trading on Wednesday, reaching $41.85. The stock had a trading volume of 426,310 shares, compared to its average volume of 1,508,994. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of -48.66 and a beta of 0.76. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The stock has a 50-day moving average of $41.27 and a 200-day moving average of $46.41. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

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 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%. As a group, research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has approved a share repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

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.