Natixis Advisors LLC Cuts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Natixis Advisors LLC lessened its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 14.1% during the fourth quarter, HoldingsChannel reports. The firm owned 24,481 shares of the technology company’s stock after selling 4,009 shares during the period. Natixis Advisors LLC’s holdings in Varonis Systems were worth $1,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP lifted its position in Varonis Systems by 61.4% during the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after acquiring an additional 43,258 shares in the last quarter. Barclays PLC raised its stake in shares of Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after purchasing an additional 35,274 shares during the period. Citigroup Inc. lifted its position in shares of Varonis Systems by 88.4% during the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after purchasing an additional 49,472 shares in the last quarter. Principal Financial Group Inc. boosted 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 valued at $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Varonis Systems during the 3rd quarter valued at $2,294,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley began coverage on shares of Varonis Systems in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Citigroup reduced their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Piper Sandler reduced their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average price target of $59.38.

Varonis Systems Stock Up 1.6 %

Shares of Varonis Systems stock opened at $42.04 on Wednesday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of -48.88 and a beta of 0.85. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve 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 business’s 50 day simple moving average is $42.92 and its 200-day simple moving average is $48.51.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. Equities research analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has approved a stock repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.