Tidal Investments LLC Boosts Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Tidal Investments LLC boosted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1,540.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,423 shares of the technology company's stock after buying an additional 63,313 shares during the quarter. Tidal Investments LLC owned approximately 0.06% of Varonis Systems worth $2,996,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VRNS. Barclays PLC increased its holdings in Varonis Systems by 10.0% during the third 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 period. SG Americas Securities LLC increased its holdings in Varonis Systems by 301.4% during the fourth quarter. SG Americas Securities LLC now owns 20,116 shares of the technology company's stock valued at $894,000 after buying an additional 15,104 shares during the period. Inspire Investing LLC increased its holdings in Varonis Systems by 185.9% during the fourth quarter. Inspire Investing LLC now owns 20,884 shares of the technology company's stock valued at $928,000 after buying an additional 13,580 shares during the period. Exchange Traded Concepts LLC increased its holdings in Varonis Systems by 29.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 48,419 shares of the technology company's stock valued at $2,151,000 after buying an additional 10,886 shares during the period. Finally, KBC Group NV increased its holdings in Varonis Systems by 45.6% during the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after buying an additional 1,488 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

Shares of VRNS traded up $0.62 during trading hours on Tuesday, reaching $47.44. 212,223 shares of the company traded hands, compared to its average volume of 1,529,667. The stock has a market capitalization of $5.31 billion, a P/E ratio of -55.15 and a beta of 0.79. 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, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The business has a fifty day moving average price of $42.57 and a 200-day moving average price of $44.42.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. 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 company posted ($0.03) earnings per share. Varonis Systems's revenue for the quarter was up 19.6% compared to the same quarter last year. Equities analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has approved a stock repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

VRNS has been the topic of several research reports. JPMorgan Chase & Co. cut 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. Wall Street Zen raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a report on Friday, March 28th. Six investment 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.06.

About Varonis Systems

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.