Brevan Howard Capital Management LP Takes $2.86 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Brevan Howard Capital Management LP acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 64,428 shares of the technology company's stock, valued at approximately $2,863,000. Brevan Howard Capital Management LP owned about 0.06% of Varonis Systems as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in Varonis Systems by 10.0% during the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after buying an additional 35,274 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Varonis Systems during the 3rd quarter valued at about $232,000. Franklin Resources Inc. increased its position in shares of Varonis Systems by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock valued at $2,383,000 after purchasing an additional 5,031 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Varonis Systems by 12.2% in the fourth quarter. Diversified Trust Co now owns 15,113 shares of the technology company's stock worth $671,000 after buying an additional 1,639 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRNS. Wells Fargo & Company decreased their price target on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. UBS Group boosted their price target on Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday. Jefferies Financial Group decreased their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. cut their price objective on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Price Performance

NASDAQ VRNS traded down $0.18 during trading on Friday, hitting $45.30. 1,370,252 shares of the stock traded hands, compared to its average volume of 1,525,368. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.07 billion, a P/E ratio of -52.67 and a beta of 0.79. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The firm has a 50-day simple moving average of $41.27 and a 200-day simple moving average of $45.22.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The business had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The business's quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a stock buyback plan on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is 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.