Prudential Financial Inc. Sells 338 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Prudential Financial Inc. lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,120 shares of the technology company’s stock after selling 338 shares during the quarter. Prudential Financial Inc.’s holdings in Varonis Systems were worth $361,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VRNS. Bailard Inc. raised its holdings in shares of Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after purchasing an additional 417 shares during the period. Arizona State Retirement System raised its stake in shares of Varonis Systems by 1.3% in the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock valued at $1,445,000 after buying an additional 425 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Varonis Systems by 0.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company’s stock valued at $3,352,000 after buying an additional 600 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after acquiring an additional 603 shares during the period. Finally, Keybank National Association OH increased its holdings in Varonis Systems by 6.7% in the 4th quarter. Keybank National Association OH now owns 10,184 shares of the technology company’s stock worth $452,000 after acquiring an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VRNS shares. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Morgan Stanley started coverage on shares of Varonis Systems in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Citigroup reduced their price objective 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. Wells Fargo & Company dropped their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.53.

Varonis Systems Stock Performance

Varonis Systems stock opened at $41.14 on Friday. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The firm’s fifty day moving average price is $41.62 and its 200-day moving average price is $47.27. The stock has a market cap of $4.63 billion, a P/E ratio of -47.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has approved a stock repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.