Varonis Systems, Inc. (NASDAQ:VRNS) Stake Reduced by Axiom Investors LLC DE

Axiom Investors LLC DE decreased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,235 shares of the technology company’s stock after selling 51,755 shares during the period. Axiom Investors LLC DE owned approximately 0.22% of Varonis Systems worth $10,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Varonis Systems by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock worth $54,405,000 after buying an additional 59,218 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Varonis Systems by 88.4% in the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after acquiring an additional 49,472 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Varonis Systems by 57.9% during the third quarter. Cerity Partners LLC now owns 10,220 shares of the technology company’s stock valued at $577,000 after purchasing an additional 3,747 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Varonis Systems by 31.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 81,191 shares of the technology company’s stock valued at $4,587,000 after purchasing an additional 19,561 shares during the period. Finally, Captrust Financial Advisors increased its stake in Varonis Systems by 11.3% in the 3rd quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company’s stock worth $467,000 after purchasing an additional 837 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRNS. DA Davidson dropped their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Morgan Stanley began coverage on shares of Varonis Systems in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Piper Sandler decreased their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Friday. Six research 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 company. Based on data from MarketBeat, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus target price of $58.82.

Varonis Systems Stock Down 0.1 %

Shares of VRNS stock opened at $41.64 on Monday. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -48.42 and a beta of 0.85. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50 day simple moving average is $42.71 and its 200 day simple moving average is $48.31. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors 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 buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management 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.