Varonis Systems, Inc. (NASDAQ:VRNS) Stock Position Lifted by Citigroup Inc.

Citigroup Inc. boosted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS – Get Rating) by 16.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,127 shares of the technology company’s stock after purchasing an additional 12,037 shares during the period. Citigroup Inc.’s holdings in Varonis Systems were worth $2,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRNS. Tremblant Capital Group grew its position in Varonis Systems by 32.0% during the third quarter. Tremblant Capital Group now owns 3,185,723 shares of the technology company’s stock valued at $84,485,000 after purchasing an additional 772,318 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Varonis Systems in the third quarter worth approximately $16,429,000. Two Sigma Advisers LP grew its position in Varonis Systems by 607.8% in the third quarter. Two Sigma Advisers LP now owns 603,019 shares of the technology company’s stock worth $15,992,000 after acquiring an additional 517,819 shares in the last quarter. Cadian Capital Management LP bought a new stake in Varonis Systems in the third quarter worth approximately $13,037,000. Finally, Two Sigma Investments LP grew its position in Varonis Systems by 1,051.1% in the third quarter. Two Sigma Investments LP now owns 472,991 shares of the technology company’s stock worth $12,544,000 after acquiring an additional 431,901 shares in the last quarter. 90.72% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Trading Up 1.2 %

Shares of NASDAQ VRNS opened at $25.74 on Thursday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.52. Varonis Systems, Inc. has a 1 year low of $15.61 and a 1 year high of $35.38. The firm’s 50-day moving average is $24.65 and its 200-day moving average is $24.34.

Varonis Systems (NASDAQ:VRNS – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The technology company reported ($0.33) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.33). The business had revenue of $107.34 million for the quarter, compared to the consensus estimate of $107.26 million. Varonis Systems had a negative net margin of 23.53% and a negative return on equity of 21.70%. Equities analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on VRNS shares. Robert W. Baird downgraded shares of Varonis Systems from an “outperform” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Monday, January 30th. Needham & Company LLC cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. JMP Securities restated a “market outperform” rating and issued a $63.00 price objective on shares of Varonis Systems in a research note on Wednesday, March 15th. Piper Sandler increased their price objective on shares of Varonis Systems from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Finally, Citigroup increased their target price on shares of Varonis Systems from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Varonis Systems has an average rating of “Hold” and a consensus target price of $30.95.

Varonis Systems Company Profile

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.