ProShare Advisors LLC Purchases 10,157 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

ProShare Advisors LLC raised its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,363 shares of the technology company's stock after buying an additional 10,157 shares during the period. ProShare Advisors LLC's holdings in Varonis Systems were worth $1,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Varonis Systems in the fourth quarter worth $56,561,000. Groupama Asset Managment bought a new position in shares of Varonis Systems in the fourth quarter worth about $55,538,000. Deutsche Bank AG lifted its stake in Varonis Systems by 97.7% in the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock worth $59,467,000 after acquiring an additional 661,436 shares during the period. Renaissance Technologies LLC lifted its position in shares of Varonis Systems by 11,353.2% during 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 raised its position in Varonis Systems by 114.1% during the 4th 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 last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Up 1.3%

Shares of VRNS traded up $0.60 on Tuesday, hitting $47.42. 209,555 shares of the stock traded hands, compared to its average volume of 1,529,662. 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 firm has a market capitalization of $5.31 billion, a P/E ratio of -55.13 and a beta of 0.79. The stock's 50 day moving average is $42.57 and its two-hundred day moving average is $44.42. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58.

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

Varonis Systems declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

VRNS has been the topic of several recent research reports. Wall Street Zen raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price target on shares of Varonis Systems in a report on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Friday, March 28th. Six 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $55.06.

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.