122,993 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Acquired by Twinbeech Capital LP

Twinbeech Capital LP acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 122,993 shares of the technology company's stock, valued at approximately $5,465,000. Twinbeech Capital LP owned about 0.11% of Varonis Systems as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC lifted its position in shares of Varonis Systems by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock worth $101,750,000 after buying an additional 52,971 shares in the last quarter. Barclays PLC raised its position in shares of 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 in the last quarter. Advantage Alpha Capital Partners LP grew its position in Varonis Systems by 30.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock worth $4,038,000 after acquiring an additional 21,040 shares in the last quarter. Inspire Investing LLC increased its stake in Varonis Systems by 185.9% during the fourth quarter. Inspire Investing LLC now owns 20,884 shares of the technology company's stock worth $928,000 after acquiring an additional 13,580 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Varonis Systems by 83.5% in the 4th quarter. Jump Financial LLC now owns 205,737 shares of the technology company's stock valued at $9,141,000 after purchasing an additional 93,619 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Wall Street Zen upgraded Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Friday, March 28th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average target price of $55.06.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded up $0.06 during trading on Monday, hitting $46.82. 705,411 shares of the company were exchanged, compared to its average volume of 1,534,887. The firm's fifty day moving average price is $42.48 and its 200 day moving average price is $44.46. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -54.44 and a beta of 0.79. 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 issued its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The company had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted ($0.03) earnings per share. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

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.