MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 772,392 shares of the technology company’s stock after selling 44,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Varonis Systems were worth $34,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC raised its holdings in shares of Varonis Systems by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock valued at $101,750,000 after purchasing an additional 52,971 shares during the last quarter. Barclays PLC raised its holdings in shares of Varonis Systems by 10.0% in 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 last quarter. Advantage Alpha Capital Partners LP raised its holdings in shares of Varonis Systems by 30.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock valued at $4,038,000 after purchasing an additional 21,040 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after purchasing an additional 995,274 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Varonis Systems by 185.9% in the fourth quarter. Inspire Investing LLC now owns 20,884 shares of the technology company’s stock valued at $928,000 after purchasing an additional 13,580 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

VRNS stock opened at $45.88 on Wednesday. The firm has a 50 day moving average of $41.43 and a 200-day moving average of $44.89. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 12 month low of $36.53 and a 12 month high of $60.58. The firm has a market capitalization of $5.14 billion, a P/E ratio of -53.35 and a beta of 0.79.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) 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 firm had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same quarter last year, the business posted ($0.03) earnings per share. Varonis Systems’s revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has approved a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase 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.

Analyst Ratings Changes

A number of research firms recently issued reports on VRNS. Royal Bank of Canada raised their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Friday, March 28th. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, March 31st. Morgan Stanley decreased their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their target price on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.06.

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.