Vontobel Holding Ltd. Has $1.71 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Vontobel Holding Ltd. grew its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 87.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,556 shares of the technology company’s stock after purchasing an additional 17,961 shares during the period. Vontobel Holding Ltd.’s holdings in Varonis Systems were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Virtue Capital Management LLC raised its holdings in shares of 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 during the period. Farther Finance Advisors LLC increased its position in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of 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 acquiring an additional 603 shares in the last quarter. KBC Group NV increased its position in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares in the last quarter. Finally, Hanseatic Management Services Inc. increased its position in shares of Varonis Systems by 4.3% during the third quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock worth $946,000 after acquiring an additional 691 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $44.10 on Tuesday. The stock has a market capitalization of $4.96 billion, a P/E ratio of -51.28 and a beta of 0.83. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $44.89 and its 200 day moving average is $50.91. Varonis Systems, Inc. has a 12 month low of $39.62 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.45% and a negative net margin of 17.38%. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.74 earnings per share for the current year.

Varonis Systems announced that its board has initiated a stock buyback program on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VRNS shares. Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. DA Davidson decreased their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group decreased their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler reduced their price objective 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. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.38.

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.