Fulcrum Asset Management LLP lifted its position in Varonis Systems, Inc. (NASDAQ:VRNS – Free Report) by 77,651.4% during the third quarter, Holdings Channel reports. The institutional investor owned 28,768 shares of the technology company’s stock after buying an additional 28,731 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Varonis Systems were worth $1,355,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. American Capital Management Inc. acquired a new stake in shares of Varonis Systems in the 2nd quarter worth $94,062,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Varonis Systems in the second quarter worth $61,262,000. Senvest Management LLC lifted its stake in shares of Varonis Systems by 406.1% during the first quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after buying an additional 1,162,651 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Varonis Systems by 218.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock worth $30,262,000 after buying an additional 966,817 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Varonis Systems during the second quarter valued at $30,733,000. Institutional investors own 95.65% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on VRNS. Cantor Fitzgerald reduced their target price on Varonis Systems from $55.00 to $49.75 and set an “overweight” rating for the company in a research note on Wednesday, November 4th. Wells Fargo & Company downgraded Varonis Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $53.00 to $49.75 in a research note on Friday, October 16th. New Street Research restated a “buy” rating on shares of Varonis Systems in a research note on Wednesday, July 29th. Jefferies Financial Group downgraded Varonis Systems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $49.75 in a report on Friday, October 16th. Finally, UBS Group lifted their target price on Varonis Systems from $37.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.39.
View Our Latest Stock Report on VRNS
Varonis Systems Stock Down 0.1%
NASDAQ:VRNS opened at $49.03 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.47 and a current ratio of 1.47. Varonis Systems, Inc. has a 52 week low of $19.70 and a 52 week high of $50.31. The stock’s 50-day moving average price is $47.95 and its 200-day moving average price is $36.16.
Varonis Systems (NASDAQ:VRNS – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $189.46 million during the quarter, compared to analyst estimates of $186.74 million. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 22.20%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. Sell-side analysts predict that Varonis Systems, Inc. will post -0.92 EPS for the current year.
About Varonis Systems
Varonis Systems, Inc. develops cybersecurity software focused on protecting organizations’ data. Its platform helps businesses discover and classify sensitive information, manage access, identify potential threats, and remediate security risks across cloud and on-premises environments. The company’s offerings include data security, identity security, and threat-detection capabilities. They are designed to help organizations protect information in systems such as Microsoft 365, cloud infrastructure, and other business applications.
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