Mirae Asset Global Investments Co. Ltd. Makes New $2.29 Million Investment in Varonis Systems, Inc. $VRNS

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Varonis Systems by 161.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company’s stock worth $29,000 after buying an additional 839 shares during the period. Assetmark Inc. raised its holdings in shares of Varonis Systems by 21.0% during the first quarter. Assetmark Inc. now owns 4,848 shares of the technology company’s stock valued at $104,000 after acquiring an additional 841 shares during the period. Essential Partners LLC raised its holdings in shares of Varonis Systems by 72.5% during the first quarter. Essential Partners LLC now owns 2,054 shares of the technology company’s stock valued at $44,000 after acquiring an additional 863 shares during the period. Versant Capital Management Inc lifted its position in shares of Varonis Systems by 27.3% in the 2nd quarter. Versant Capital Management Inc now owns 4,232 shares of the technology company’s stock valued at $178,000 after acquiring an additional 907 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Varonis Systems by 76.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,408 shares of the technology company’s stock valued at $101,000 after acquiring an additional 1,041 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRNS. JPMorgan Chase & Co. raised their price objective on shares of Varonis Systems from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Piper Sandler downgraded shares of Varonis Systems from an “overweight” rating to a “neutral” rating and cut their target price for the company from $58.00 to $49.75 in a research note on Friday, October 16th. Susquehanna lowered Varonis Systems from a “positive” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $49.75 in a report on Thursday. Jefferies Financial Group cut Varonis Systems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $49.75 in a research report on Friday, October 16th. Finally, UBS Group lifted their price target on Varonis Systems from $37.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.39.

Varonis Systems Trading Up 0.1%

Varonis Systems stock opened at $48.80 on Friday. Varonis Systems, Inc. has a 12 month low of $19.70 and a 12 month high of $50.31. The company has a quick ratio of 1.65, a current ratio of 1.47 and a debt-to-equity ratio of 1.05. The stock has a market cap of $5.61 billion, a P/E ratio of -36.69 and a beta of 0.76. The company’s fifty day simple moving average is $47.61 and its 200-day simple moving average is $35.94.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $189.46 million during the quarter, compared to analysts’ expectations of $186.74 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts forecast 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.