Varonis Systems, Inc. (NASDAQ:VRNS) Holdings Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,815 shares of the technology company’s stock after selling 4,138 shares during the quarter. Corebridge Financial Inc.’s holdings in Varonis Systems were worth $2,435,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after acquiring an additional 603 shares in the last quarter. R Squared Ltd bought a new position in Varonis Systems during the 4th quarter valued at $194,000. KBC Group NV boosted its stake in Varonis Systems by 45.6% during the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,488 shares in the last quarter. Atom Investors LP acquired a new position in shares of Varonis Systems during the 3rd quarter valued at $224,000. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth $224,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VRNS. Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Friday, March 28th. Jefferies Financial Group lowered their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday. Piper Sandler cut their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Citigroup cut their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $58.53.

Varonis Systems Stock Performance

VRNS stock opened at $40.90 on Wednesday. The firm has a 50 day simple moving average of $42.55 and a 200 day simple moving average of $48.13. Varonis Systems, Inc. has a 52 week low of $39.11 and a 52 week high of $60.58. The stock has a market cap of $4.60 billion, a P/E ratio of -47.56 and a beta of 0.85. 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 posted its quarterly earnings results 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%. Research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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