Magnetar Financial LLC Boosts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Magnetar Financial LLC boosted its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 477.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,011 shares of the technology company’s stock after buying an additional 56,234 shares during the quarter. Magnetar Financial LLC owned approximately 0.06% of Varonis Systems worth $3,022,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VRNS. KBC Group NV lifted its stake in Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after buying an additional 663 shares in the last quarter. Natixis Advisors LLC raised its holdings in Varonis Systems by 138.9% in the 3rd quarter. Natixis Advisors LLC now owns 28,490 shares of the technology company’s stock valued at $1,610,000 after acquiring an additional 16,565 shares during the last quarter. Swiss National Bank raised its holdings in Varonis Systems by 1.3% in the 3rd quarter. Swiss National Bank now owns 217,754 shares of the technology company’s stock valued at $12,303,000 after acquiring an additional 2,700 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Varonis Systems in the 3rd quarter valued at $1,872,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Varonis Systems by 97.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 251,516 shares of the technology company’s stock valued at $14,211,000 after acquiring an additional 124,368 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 1.7 %

Shares of Varonis Systems stock opened at $41.54 on Friday. The company has a fifty day moving average price of $43.13 and a 200 day moving average price of $48.85. 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, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -48.30 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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%. Equities research analysts forecast 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 permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler cut their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. DA Davidson cut their price target on 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 upgraded Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. 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 analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.38.

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.