Blueshift Asset Management LLC Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Blueshift Asset Management LLC bought a new position in Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,171 shares of the technology company’s stock, valued at approximately $363,000.

A number of other large investors have also added to or reduced their stakes in the stock. Virtue Capital Management LLC lifted its position in Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after purchasing an additional 364 shares in the last quarter. Bailard Inc. raised its stake in shares of Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after buying an additional 417 shares during the period. Arizona State Retirement System lifted its position in shares of Varonis Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock valued at $1,445,000 after buying an additional 425 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after acquiring an additional 603 shares during the period. Finally, Keybank National Association OH increased its holdings in Varonis Systems by 6.7% in the 4th quarter. Keybank National Association OH now owns 10,184 shares of the technology company’s stock worth $452,000 after acquiring an additional 639 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on VRNS shares. Piper Sandler dropped their price target on shares of 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 shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target on the stock. DA Davidson dropped their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Stock Performance

Varonis Systems stock opened at $41.00 on Friday. The company’s 50-day moving average price is $43.05 and its 200-day moving average price is $48.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $4.61 billion, a PE ratio of -47.67 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.

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 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%. On average, equities research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has authorized a share buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership 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.