Proficio Capital Partners LLC Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Proficio Capital Partners LLC bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,216 shares of the technology company’s stock, valued at approximately $898,000.

Several other large investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 423 shares during the last quarter. Pacer Advisors Inc. grew its holdings 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 buying an additional 603 shares during the last quarter. KBC Group NV grew its holdings 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 buying an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems during the third quarter worth about $184,000. Finally, R Squared Ltd purchased a new position in shares of Varonis Systems during the fourth quarter worth about $194,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VRNS shares. 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 report on Thursday, December 19th. DA Davidson lowered their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Piper Sandler lowered their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday. Finally, 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. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Price Performance

NASDAQ VRNS opened at $40.74 on Friday. Varonis Systems, Inc. has a 52 week low of $39.62 and a 52 week high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of -47.37 and a beta of 0.83. The company has a 50-day moving average price of $43.81 and a two-hundred day moving average price of $49.81.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. Analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has authorized a share repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.