Wealthfront Advisers LLC Makes New $17.09 Million Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

Wealthfront Advisers LLC acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 384,600 shares of the technology company’s stock, valued at approximately $17,088,000. Wealthfront Advisers LLC owned approximately 0.34% of Varonis Systems at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VRNS. Farther Finance Advisors LLC raised its stake in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares during the period. Pacer Advisors Inc. boosted its position in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after buying an additional 603 shares during the period. KBC Group NV lifted 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 valued at $184,000 after purchasing an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Varonis Systems during the third quarter valued at about $184,000. Finally, R Squared Ltd bought a new stake in shares of Varonis Systems in the 4th quarter worth approximately $194,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

Shares of VRNS opened at $39.73 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a fifty-two week low of $39.49 and a fifty-two week high of $60.58. The firm has a 50-day simple moving average of $43.64 and a 200-day simple moving average of $49.52. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -46.20 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) 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%. On average, equities research 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 authorized a share buyback program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

VRNS has been the topic of a number of recent research reports. Piper Sandler cut their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. DA Davidson dropped their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company cut 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 report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems 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.