Baillie Gifford & Co. Has $743,000 Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Baillie Gifford & Co. lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 10.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,715 shares of the technology company’s stock after selling 1,908 shares during the period. Baillie Gifford & Co.’s holdings in Varonis Systems were worth $743,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares in the last quarter. Pacer Advisors Inc. lifted its position 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 buying an additional 603 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV lifted its position in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Varonis Systems during the 3rd quarter worth approximately $184,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th. DA Davidson lowered their price target 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. Finally, Piper Sandler lowered their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $59.38.

Varonis Systems Stock Performance

Varonis Systems stock opened at $44.22 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $4.97 billion, a PE ratio of -51.42 and a beta of 0.83. The firm has a fifty day simple moving average of $44.89 and a two-hundred day simple moving average of $50.91. Varonis Systems, Inc. has a twelve month low of $39.62 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.45% and a negative net margin of 17.38%. Research analysts expect that Varonis Systems, Inc. will post -0.74 EPS for the current year.

Varonis Systems announced that its board has approved a share buyback plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Varonis Systems Company 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.