MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 44,130 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 772,392 shares of the technology company's stock after selling 44,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.69% of Varonis Systems worth $34,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP bought a new position in Varonis Systems in the 4th quarter valued at about $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems during the 4th quarter worth about $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems in the 4th quarter valued at $62,000. New Age Alpha Advisors LLC bought a new position in shares of Varonis Systems in the 4th quarter worth about $70,000. Finally, Pacer Advisors Inc. grew its position 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 buying an additional 603 shares during the period. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VRNS. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a research report on Wednesday, May 7th. Morgan Stanley decreased their target price on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company dropped their price objective on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Needham & Company LLC reissued a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.06.

Varonis Systems Trading Down 0.0%

VRNS traded down $0.02 during trading on Monday, hitting $46.30. 396,580 shares of the stock traded hands, compared to its average volume of 1,532,896. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $41.87 and a 200 day moving average of $44.68. The firm has a market capitalization of $5.18 billion, a P/E ratio of -53.84 and a beta of 0.79. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The business had revenue of $136.42 million for the quarter, compared to the consensus estimate of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The company's revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has approved a stock repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are 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.