MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $34.32 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 772,392 shares of the technology company's stock after selling 44,130 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.69% of Varonis Systems worth $34,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Varonis Systems in the 4th quarter valued at approximately $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems in the 4th quarter valued at approximately $61,000. Transce3nd LLC acquired a new position in Varonis Systems in the 4th quarter valued at approximately $62,000. New Age Alpha Advisors LLC acquired a new position in Varonis Systems in the 4th quarter valued at approximately $70,000. Finally, Pacer Advisors Inc. increased its position in Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after acquiring an additional 603 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VRNS shares. Morgan Stanley decreased their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a research report on Wednesday, May 7th. UBS Group increased their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, StockNews.com upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Stock Up 0.1%

Varonis Systems stock opened at $45.88 on Wednesday. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of -53.35 and a beta of 0.79. The firm's fifty day moving average price is $41.43 and its two-hundred day moving average price is $44.89. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

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

Varonis Systems declared that its board has authorized a share repurchase 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 repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are 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.

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