Axiom Investors LLC DE Has $10.90 Million Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Axiom Investors LLC DE trimmed its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 17.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 245,235 shares of the technology company's stock after selling 51,755 shares during the period. Axiom Investors LLC DE owned about 0.22% of Varonis Systems worth $10,896,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new position in Varonis Systems in the fourth quarter worth $70,000. Pacer Advisors Inc. lifted its position in Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares in the last quarter. R Squared Ltd bought a new stake in Varonis Systems during the 4th quarter worth about $194,000. KBC Group NV increased its position in Varonis Systems by 45.6% in the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Atom Investors LP bought a new position in shares of Varonis Systems in the third quarter worth about $224,000. Institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Up 1.6 %

VRNS traded up $0.66 during trading on Wednesday, hitting $41.56. The company had a trading volume of 1,502,475 shares, compared to its average volume of 1,474,346. The company has a market capitalization of $4.68 billion, a PE ratio of -48.33 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 one year low of $39.11 and a one year high of $60.58. The firm's 50-day moving average price is $42.55 and its 200 day moving average price is $48.13.

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Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) 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, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has authorized a stock buyback plan 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 plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VRNS. Citigroup reduced their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Jefferies Financial Group decreased their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a report on Monday. Piper Sandler cut their target price 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. Cantor Fitzgerald began coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target for the company. Finally, Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Friday, March 28th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.53.

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.