Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC cut its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 99.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,893 shares of the technology company's stock after selling 6,527,694 shares during the period. Boothbay Fund Management LLC's holdings in Varonis Systems were worth $1,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Varonis Systems in the 4th quarter valued at approximately $56,561,000. Groupama Asset Managment acquired a new stake in shares of Varonis Systems during the 4th quarter worth about $55,538,000. Assenagon Asset Management S.A. raised its holdings in Varonis Systems by 761.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock valued at $50,026,000 after buying an additional 995,274 shares during the period. Renaissance Technologies LLC lifted its position in Varonis Systems by 11,353.2% in the fourth quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company's stock valued at $23,917,000 after buying an additional 533,600 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Varonis Systems by 114.1% during the fourth quarter. Bank of Montreal Can now owns 979,769 shares of the technology company's stock worth $43,531,000 after buying an additional 522,075 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Up 0.7 %

Shares of NASDAQ:VRNS traded up $0.30 during midday trading on Friday, hitting $43.01. 734,606 shares of the company's stock traded hands, compared to its average volume of 1,516,620. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a market cap of $4.81 billion, a PE ratio of -50.01 and a beta of 0.76. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The firm's fifty day moving average price is $41.09 and its two-hundred day moving average price is $45.73.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has initiated a share repurchase plan on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup dropped their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, January 17th. StockNews.com raised Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday. Jefferies Financial Group dropped their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Needham & Company LLC reissued a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald began coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price on the stock. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.00.

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.