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

Baillie Gifford & Co. lowered its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,715 shares of the technology company’s stock after selling 1,908 shares during the quarter. Baillie Gifford & Co.’s holdings in Varonis Systems were worth $743,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quantbot Technologies LP grew its position in Varonis Systems by 61.4% during the third quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after buying an additional 43,258 shares in the last quarter. Lisanti Capital Growth LLC grew its position in Varonis Systems by 17.0% during the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock worth $4,198,000 after buying an additional 10,820 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Varonis Systems by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock worth $19,802,000 after buying an additional 44,826 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Varonis Systems during the third quarter worth approximately $1,872,000. Finally, Barclays PLC lifted its stake in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after purchasing an additional 35,274 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Up 0.3 %

Shares of NASDAQ:VRNS opened at $44.22 on Wednesday. The firm has a market cap of $4.97 billion, a P/E ratio of -51.42 and a beta of 0.83. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems, Inc. has a 12-month low of $39.62 and a 12-month high of $60.58. The business has a fifty day simple moving average of $44.89 and a 200 day simple moving average of $50.91.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. Analysts predict that Varonis Systems, Inc. will post -0.74 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has authorized a share buyback program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on VRNS. UBS Group upped their target price on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup cut their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. DA Davidson cut their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Cantor Fitzgerald started coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.38.

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.