BNP Paribas Financial Markets Sells 6,253 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

BNP Paribas Financial Markets lowered its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 74,938 shares of the technology company’s stock after selling 6,253 shares during the period. BNP Paribas Financial Markets’ holdings in Varonis Systems were worth $3,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in shares of Varonis Systems during the 4th quarter valued at $36,000. Johnson Financial Group Inc. bought a new position in shares of Varonis Systems during the 4th quarter valued at $61,000. Transce3nd LLC bought a new position in shares of Varonis Systems during the 4th quarter valued at $62,000. New Age Alpha Advisors LLC bought a new position in shares of Varonis Systems during the 4th quarter valued at $70,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Varonis Systems by 29.5% during the 4th 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. Institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on VRNS. Citigroup reduced their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Wolfe Research raised shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday, March 28th. Barclays dropped their price target on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their price target 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 analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.06.

Varonis Systems Trading Down 0.0%

NASDAQ:VRNS opened at $45.70 on Friday. The company has a 50-day moving average price of $41.73 and a 200-day moving average price of $44.82. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -53.14 and a beta of 0.79.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The business had revenue of $136.42 million for the quarter, compared to analysts’ expectations of $133.10 million. During the same period last year, the business earned ($0.03) earnings per share. The company’s revenue was up 19.6% on a year-over-year basis. Equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.