Varonis Systems, Inc. (NASDAQ:VRNS) Stock Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 214.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 389,563 shares of the technology company's stock after acquiring an additional 265,647 shares during the period. Wells Fargo & Company MN owned approximately 0.35% of Varonis Systems worth $17,308,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Varonis Systems in the 4th quarter valued at $56,561,000. Groupama Asset Managment purchased a new position in shares of Varonis Systems during the fourth quarter worth about $55,538,000. Assenagon Asset Management S.A. increased its position in shares of 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 purchasing an additional 995,274 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Varonis Systems in the 4th quarter valued at about $21,860,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Varonis Systems in the 4th quarter valued at about $17,088,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded down $0.44 on Friday, hitting $40.39. The company's stock had a trading volume of 819,623 shares, compared to its average volume of 1,511,491. The stock has a 50 day moving average of $41.42 and a 200-day moving average of $46.70. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -46.96 and a beta of 0.76. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on VRNS shares. Morgan Stanley reduced their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday. StockNews.com cut shares of Varonis Systems from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Jefferies Financial Group dropped their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Finally, Barclays dropped their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.11.

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.