Amundi Cuts Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Amundi trimmed its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,290 shares of the technology company’s stock after selling 4,672 shares during the quarter. Amundi owned approximately 0.05% of Varonis Systems worth $2,667,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in VRNS. Assetmark Inc. increased its holdings in shares of Varonis Systems by 31.0% during the 3rd quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock valued at $328,000 after purchasing an additional 1,375 shares in the last quarter. KBC Group NV increased its holdings in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Varonis Systems by 138.9% during the 3rd quarter. Natixis Advisors LLC now owns 28,490 shares of the technology company’s stock valued at $1,610,000 after purchasing an additional 16,565 shares in the last quarter. Swiss National Bank grew its stake 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 period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Varonis Systems in the 3rd quarter valued at $1,872,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on VRNS. Needham & Company LLC reissued a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. DA Davidson dropped their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Cantor Fitzgerald began coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Trading Up 2.2 %

Shares of VRNS stock opened at $40.01 on Monday. The company’s 50-day moving average price is $43.35 and its 200-day moving average price is $49.16. 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 stock has a market cap of $4.50 billion, a price-to-earnings ratio of -46.52 and a beta of 0.85. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly 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, equities analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication 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.