Thrivent Financial for Lutherans Sells 56,896 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Thrivent Financial for Lutherans cut its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,615,813 shares of the technology company's stock after selling 56,896 shares during the period. Thrivent Financial for Lutherans owned approximately 2.33% of Varonis Systems worth $116,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KBC Group NV lifted its position in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock valued at $184,000 after acquiring an additional 663 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Varonis Systems by 138.9% in the 3rd quarter. Natixis Advisors LLC now owns 28,490 shares of the technology company's stock valued at $1,610,000 after acquiring an additional 16,565 shares in the last quarter. Swiss National Bank lifted its position in shares of Varonis Systems by 1.3% in the 3rd quarter. Swiss National Bank now owns 217,754 shares of the technology company's stock valued at $12,303,000 after acquiring an additional 2,700 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Varonis Systems in the 3rd quarter valued at approximately $1,872,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Varonis Systems by 97.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 251,516 shares of the technology company's stock valued at $14,211,000 after acquiring an additional 124,368 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Varonis Systems Stock Performance

NASDAQ:VRNS traded down $0.54 during midday trading on Friday, reaching $41.00. The stock had a trading volume of 2,415,345 shares, compared to its average volume of 1,405,564. Varonis Systems, Inc. has a 1-year low of $39.11 and a 1-year high of $60.58. The firm's fifty day simple moving average is $43.05 and its 200-day simple moving average is $48.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $4.61 billion, a P/E ratio of -47.67 and a beta of 0.85.

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 (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%. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has initiated a stock repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VRNS shares. DA Davidson reduced their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Citigroup cut their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Jefferies Financial Group cut their target price on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 target price for the company. Finally, Wells Fargo & Company cut their target price on shares of 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. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $59.38.

About Varonis Systems

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.