Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,221,877 shares of the technology company’s stock after selling 35,703 shares during the quarter. Loomis Sayles & Co. L P owned 1.09% of Varonis Systems worth $54,288,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Pier Capital LLC grew its position in shares of Varonis Systems by 2.5% during the fourth quarter. Pier Capital LLC now owns 160,518 shares of the technology company’s stock worth $7,132,000 after buying an additional 3,965 shares in the last quarter. EFG Asset Management North America Corp. grew its holdings in Varonis Systems by 91.0% during the 4th quarter. EFG Asset Management North America Corp. now owns 95,769 shares of the technology company’s stock worth $4,254,000 after acquiring an additional 45,627 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Varonis Systems in the 4th quarter valued at approximately $287,000. Advantage Alpha Capital Partners LP raised its holdings in shares of Varonis Systems by 30.1% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock valued at $4,038,000 after purchasing an additional 21,040 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Varonis Systems by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock worth $544,124,000 after purchasing an additional 193,210 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on VRNS shares. Morgan Stanley started coverage on Varonis Systems in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Citigroup cut their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. DA Davidson lowered 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. Piper Sandler cut their price objective 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, Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price for the company. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average target price of $59.38.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $41.69 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.69 billion, a P/E ratio of -48.48 and a beta of 0.85. The firm has a 50-day moving average price of $42.77 and a two-hundred day moving average price of $48.41. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58.

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

Varonis Systems announced that its board has approved a share repurchase plan on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership 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.