Legal & General Group Plc Has $25.15 Million Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Legal & General Group Plc lifted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 566,129 shares of the technology company’s stock after purchasing an additional 2,330 shares during the quarter. Legal & General Group Plc’s holdings in Varonis Systems were worth $25,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new stake in Varonis Systems in the 4th quarter valued at $70,000. Pacer Advisors Inc. increased its holdings in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after buying an additional 603 shares during the last quarter. Tidal Investments LLC bought a new stake in Varonis Systems during the third quarter worth $232,000. R Squared Ltd acquired a new stake in Varonis Systems in the fourth quarter valued at $194,000. Finally, KBC Group NV grew its position in shares of Varonis Systems by 45.6% in the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after acquiring an additional 1,488 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Up 0.4 %

VRNS stock opened at $41.30 on Monday. The business has a 50-day simple moving average of $41.51 and a 200 day simple moving average of $47.09. The company has a market cap of $4.65 billion, a PE ratio of -48.02 and a beta of 0.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. Sell-side analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has initiated a share buyback 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 reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Citigroup reduced their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. StockNews.com cut Varonis Systems from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company reduced their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald began coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.53.

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.