Norges Bank purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 878,383 shares of the technology company’s stock, valued at approximately $28,811,000. Norges Bank owned about 0.75% of Varonis Systems at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in VRNS. Signaturefd LLC lifted its holdings in Varonis Systems by 47.8% during the 4th quarter. Signaturefd LLC now owns 995 shares of the technology company’s stock valued at $33,000 after purchasing an additional 322 shares during the last quarter. Allworth Financial LP lifted its holdings in Varonis Systems by 201.3% during the 3rd quarter. Allworth Financial LP now owns 693 shares of the technology company’s stock valued at $40,000 after purchasing an additional 463 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Varonis Systems during the 3rd quarter valued at $42,000. First Horizon Corp lifted its holdings in Varonis Systems by 121.7% during the 4th quarter. First Horizon Corp now owns 1,740 shares of the technology company’s stock valued at $57,000 after purchasing an additional 955 shares during the last quarter. Finally, CI Investments Inc. increased its position in Varonis Systems by 48.5% during the 3rd quarter. CI Investments Inc. now owns 1,050 shares of the technology company’s stock worth $60,000 after buying an additional 343 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.
Varonis Systems Stock Down 1.7%
Shares of NASDAQ VRNS opened at $32.48 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.69 and a current ratio of 1.69. Varonis Systems, Inc. has a 52 week low of $19.70 and a 52 week high of $63.90. The stock has a market capitalization of $3.73 billion, a P/E ratio of -28.49 and a beta of 0.89. The stock’s fifty day moving average is $27.19 and its 200 day moving average is $28.46.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on VRNS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Varonis Systems in a research report on Monday, May 4th. Susquehanna increased their price objective on Varonis Systems from $30.00 to $36.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on Varonis Systems from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Wedbush increased their price objective on Varonis Systems from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada increased their price objective on Varonis Systems from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $41.35.
Get Our Latest Stock Analysis on VRNS
Varonis Systems Company Profile
Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company’s flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.
Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.
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