Varonis Systems, Inc. $VRNS Stock: Kornitzer Capital Management Inc. KS Increases Holdings

Kornitzer Capital Management Inc. KS grew its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,496 shares of the technology company’s stock after purchasing an additional 24,345 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Varonis Systems were worth $6,856,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VRNS. EverSource Wealth Advisors LLC grew its stake in shares of Varonis Systems by 161.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company’s stock worth $29,000 after acquiring an additional 839 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Varonis Systems by 10,694.1% in the first quarter. Fifth Third Bancorp now owns 1,835 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,818 shares during the period. Essential Partners LLC lifted 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 worth $44,000 after purchasing an additional 863 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Varonis Systems during the 2nd quarter valued at approximately $55,000. Finally, Parallel Advisors LLC lifted its position in Varonis Systems by 1,025.4% during the first quarter. Parallel Advisors LLC now owns 3,320 shares of the technology company’s stock valued at $71,000 after purchasing an additional 3,025 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $48.80 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $5.63 billion, a PE ratio of -36.69 and a beta of 0.76. The company has a 50-day moving average of $47.61 and a two-hundred day moving average of $35.94. 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, beating the consensus estimate of $0.03 by $0.06. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 22.20%. The business had revenue of $189.46 million during the quarter, compared to analyst estimates of $186.74 million. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts predict that Varonis Systems, Inc. will post -0.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRNS shares. Piper Sandler lowered shares of Varonis Systems from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $58.00 to $49.75 in a research report on Friday, October 16th. Robert W. Baird upped their price target on shares of Varonis Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 16th. TD Cowen downgraded Varonis Systems from a “buy” rating to a “hold” rating and decreased their target price for the company from $56.00 to $49.75 in a research report on Friday, October 16th. Barclays downgraded Varonis Systems from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Monday, October 19th. Finally, B. Riley Financial cut shares of Varonis Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 16th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of “Hold” and a consensus price target of $50.39.

Varonis Systems Profile

Varonis Systems, Inc develops cybersecurity software focused on protecting organizations’ data. Its platform helps businesses discover and classify sensitive information, manage access, identify potential threats, and remediate security risks across cloud and on-premises environments.

The company’s offerings include data security, identity security, and threat-detection capabilities. They are designed to help organizations protect information in systems such as Microsoft 365, cloud infrastructure, and other business applications.

Founded in 2005 by Yaki Faitelson and Ohad Korkus, Varonis serves customers internationally.