Mirae Asset Global Investments Co. Ltd. Buys 48,350 Shares of Varonis Systems, Inc. $VRNS

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,350 shares of the technology company’s stock, valued at approximately $2,294,000.

A number of other large investors also recently modified their holdings of VRNS. Sterling Capital Management LLC lifted its holdings in Varonis Systems by 840.4% in the third quarter. Sterling Capital Management LLC now owns 3,771 shares of the technology company’s stock worth $179,000 after acquiring an additional 3,370 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Varonis Systems by 98.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,589 shares of the technology company’s stock worth $265,000 after purchasing an additional 2,777 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Varonis Systems by 417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 89,971 shares of the technology company’s stock worth $4,269,000 after purchasing an additional 72,577 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Varonis Systems during the 3rd quarter valued at approximately $247,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Varonis Systems during the 2nd quarter valued at approximately $204,000. 95.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRNS. JPMorgan Chase & Co. raised their target price on Varonis Systems from $39.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Citigroup upped their target price on shares of Varonis Systems from $45.00 to $49.75 and gave the stock a “neutral” rating in a research report on Friday, October 16th. TD Cowen cut Varonis Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $56.00 to $49.75 in a report on Friday, October 16th. Piper Sandler cut Varonis Systems from an “overweight” rating to a “neutral” rating and cut their price target for the company from $58.00 to $49.75 in a report on Friday, October 16th. Finally, Needham & Company LLC lowered Varonis Systems from a “buy” rating to a “hold” rating in a report on Friday, October 16th. Four analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Varonis Systems presently has a consensus rating of “Hold” and a consensus price target of $50.39.

Varonis Systems Stock Performance

VRNS opened at $48.80 on Friday. The business has a 50 day moving average price of $47.61 and a two-hundred day moving average price of $35.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.47 and a quick ratio of 1.65. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of -36.69 and a beta of 0.76. Varonis Systems, Inc. has a 1-year low of $19.70 and a 1-year high of $50.31.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. Varonis Systems had a negative return on equity of 22.20% and a negative net margin of 21.38%. The company had revenue of $189.46 million for the quarter, compared to the consensus estimate of $186.74 million. During the same quarter in the previous year, the business earned $0.06 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Research analysts predict that Varonis Systems, Inc. will post -0.93 EPS for the current fiscal year.

About Varonis Systems

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company’s products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.