Emerald Mutual Fund Advisers Trust Reduces Stock Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Emerald Mutual Fund Advisers Trust lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 549,750 shares of the technology company's stock after selling 123,891 shares during the quarter. Varonis Systems comprises about 1.5% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 13th largest holding. Emerald Mutual Fund Advisers Trust owned approximately 0.49% of Varonis Systems worth $24,425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VRNS. Tower Research Capital LLC TRC raised its stake in shares of Varonis Systems by 7.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock valued at $193,000 after purchasing an additional 298 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Varonis Systems by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock valued at $512,000 after buying an additional 365 shares during the period. Bailard Inc. raised its stake in shares of Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after buying an additional 417 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Varonis Systems by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after acquiring an additional 424 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Varonis Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after acquiring an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Up 1.5 %

Shares of NASDAQ VRNS opened at $42.28 on Monday. The company's 50 day simple moving average is $41.13 and its 200 day simple moving average is $46.01. The firm has a market capitalization of $4.73 billion, a P/E ratio of -49.16 and a beta of 0.76. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released 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, analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has authorized a stock buyback program on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of analyst reports. Piper Sandler cut their price target on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company lowered their price target on 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. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Finally, Barclays decreased their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.11.

Varonis Systems 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.

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