Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by EVR Research LP

EVR Research LP lowered its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 75.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,000 shares of the technology company's stock after selling 221,000 shares during the quarter. Varonis Systems comprises approximately 1.0% of EVR Research LP's portfolio, making the stock its 24th biggest position. EVR Research LP owned 0.06% of Varonis Systems worth $3,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Varonis Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock worth $544,124,000 after buying an additional 193,210 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Varonis Systems by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock worth $147,801,000 after acquiring an additional 29,050 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after purchasing an additional 52,971 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Varonis Systems by 1.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock worth $101,636,000 after purchasing an additional 29,852 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Institutional investors own 95.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday. Citigroup decreased their target price on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Morgan Stanley dropped their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday. Needham & Company LLC reissued a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Finally, Jefferies Financial Group cut their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.11.

Varonis Systems Price Performance

NASDAQ VRNS traded down $0.31 during trading on Thursday, hitting $40.52. 334,046 shares of the stock traded hands, compared to its average volume of 1,503,440. The firm has a 50-day simple moving average of $41.51 and a 200-day simple moving average of $46.91. The company has a market capitalization of $4.56 billion, a P/E ratio of -47.11 and a beta of 0.76. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. 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 quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its Board of Directors has initiated a share 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 buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.