Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,615,813 shares of the technology company’s stock after selling 56,896 shares during the quarter. Thrivent Financial for Lutherans owned approximately 2.33% of Varonis Systems worth $116,221,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtue Capital Management LLC increased its stake in Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after buying an additional 364 shares during the period. Bailard Inc. boosted its holdings 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 valued at $4,160,000 after acquiring an additional 417 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock valued at $1,445,000 after acquiring an additional 425 shares during the period. Pacer Advisors Inc. raised its holdings in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in Varonis Systems by 6.7% during the fourth quarter. Keybank National Association OH now owns 10,184 shares of the technology company’s stock worth $452,000 after purchasing an additional 639 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Up 3.6 %

VRNS stock opened at $41.45 on Tuesday. The company has a 50 day moving average of $43.28 and a two-hundred day moving average of $49.05. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -48.20 and a beta of 0.85. Varonis Systems, Inc. has a 12-month low of $39.11 and a 12-month high of $60.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its board has approved a stock buyback program on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRNS. Jefferies Financial Group lowered their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Piper Sandler lowered their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Citigroup reduced their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, 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 report on Thursday, December 12th. Six 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, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

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.