Inspire Advisors LLC Acquires New Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Inspire Advisors LLC acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 41,994 shares of the technology company’s stock, valued at approximately $1,866,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC grew its position in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares in the last quarter. Pacer Advisors Inc. grew its position in Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after acquiring an additional 603 shares in the last quarter. KBC Group NV grew its position in Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems in the third quarter worth approximately $184,000. Finally, R Squared Ltd bought a new stake in Varonis Systems in the fourth quarter worth approximately $194,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent research reports. Jefferies Financial Group decreased 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. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday. Cantor Fitzgerald initiated 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. DA Davidson decreased their target price 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. Finally, Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $40.01 on Tuesday. The stock has a market cap of $4.50 billion, a P/E ratio of -46.52 and a beta of 0.85. Varonis Systems, Inc. has a one year low of $39.62 and a one year high of $60.58. The company has a fifty day moving average price of $43.73 and a 200 day moving average price of $49.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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%. Analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.