US Bancorp DE Sells 4,469 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

US Bancorp DE decreased its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,516 shares of the technology company’s stock after selling 4,469 shares during the period. US Bancorp DE’s holdings in Varonis Systems were worth $645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtue Capital Management LLC lifted its stake in Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares during the last quarter. 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 valued at $29,000 after buying 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 valued at $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 valued at $184,000 after buying an additional 663 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in Varonis Systems by 11.3% during the third quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company’s stock valued at $467,000 after purchasing an additional 837 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 0.7 %

Shares of NASDAQ VRNS opened at $39.73 on Wednesday. Varonis Systems, Inc. has a 12-month low of $39.49 and a 12-month high of $60.58. The stock has a market cap of $4.47 billion, a PE ratio of -46.20 and a beta of 0.85. 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 company has a 50-day moving average of $43.64 and a 200 day moving average of $49.52.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data 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 net margin of 17.38% and a negative return on equity of 20.35%. As a group, sell-side analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has authorized a stock repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group decreased their price objective 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 decreased 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. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. DA Davidson decreased their price objective 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. Finally, StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Varonis Systems currently has a consensus 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.