384,600 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS) during the fourth quarter, HoldingsChannel.com reports. The fund bought 384,600 shares of the technology company’s stock, valued at approximately $17,088,000.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Varonis Systems by 445.3% in 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. lifted its stake in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares during the period. KBC Group NV lifted its stake in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Varonis Systems during the third quarter worth $184,000. Finally, R Squared Ltd purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $194,000. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRNS. Jefferies Financial Group decreased their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. DA Davidson lowered their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler decreased their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Citigroup dropped their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Price Performance

Varonis Systems stock 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 business’s 50-day simple moving average is $43.64 and its 200 day simple moving average is $49.52. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -46.20 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last released its quarterly 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 return on equity of 20.35% and a negative net margin of 17.38%. As a group, research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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