AQR Capital Management LLC Has $12.92 Million Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

AQR Capital Management LLC grew its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,839 shares of the technology company's stock after purchasing an additional 67,127 shares during the period. AQR Capital Management LLC owned about 0.26% of Varonis Systems worth $12,922,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northern Trust Corp grew its position in Varonis Systems by 8.2% during the fourth quarter. Northern Trust Corp now owns 1,122,939 shares of the technology company's stock worth $49,892,000 after buying an additional 84,796 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Varonis Systems by 7.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 814,055 shares of the technology company's stock valued at $36,168,000 after acquiring an additional 54,320 shares during the period. Quarry LP acquired a new stake in shares of Varonis Systems during the 4th quarter worth $36,000. Aquatic Capital Management LLC increased its position in shares of Varonis Systems by 104.3% in the fourth quarter. Aquatic Capital Management LLC now owns 140,369 shares of the technology company's stock worth $6,237,000 after purchasing an additional 71,669 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Varonis Systems in the fourth quarter valued at about $61,000. 95.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. StockNews.com upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Barclays decreased their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Piper Sandler lowered their price target on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, Cantor Fitzgerald initiated coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.00.

Varonis Systems Stock Up 2.0 %

Shares of NASDAQ:VRNS opened at $43.85 on Tuesday. The business has a fifty day simple moving average of $41.11 and a 200 day simple moving average of $45.32. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The firm has a market cap of $4.91 billion, a P/E ratio of -50.99 and a beta of 0.79. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has authorized a share repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

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.

Want to see what other hedge funds are holding VRNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Varonis Systems, Inc. (NASDAQ:VRNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.