Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,481 shares of the technology company’s stock after selling 4,009 shares during the quarter. Natixis Advisors LLC’s holdings in Varonis Systems were worth $1,088,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after buying an additional 995,274 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Varonis Systems in the 4th quarter worth approximately $21,860,000. Wealthfront Advisers LLC purchased a new position in Varonis Systems in the 4th quarter valued at approximately $17,088,000. Two Sigma Advisers LP raised its holdings in Varonis Systems by 46.7% during the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after purchasing an additional 267,000 shares during the last quarter. Finally, Thematics Asset Management boosted its position in Varonis Systems by 40.2% during the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock worth $29,945,000 after purchasing an additional 152,000 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Cantor Fitzgerald began coverage on Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target for the company. DA Davidson reduced their price target 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. Needham & Company LLC reissued a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Wells Fargo & Company dropped their price target on 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, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $42.04 on Wednesday. The company has a market cap of $4.73 billion, a P/E ratio of -48.88 and a beta of 0.85. The firm’s 50 day moving average is $42.92 and its two-hundred day moving average is $48.51. Varonis Systems, Inc. has a fifty-two week low of $39.11 and a fifty-two week 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) earnings per share 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%. Analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has approved a stock buyback plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.