Twinbeech Capital LP Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Twinbeech Capital LP acquired a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 122,993 shares of the technology company's stock, valued at approximately $5,465,000. Twinbeech Capital LP owned 0.11% of Varonis Systems as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VRNS. Quarry LP acquired a new position in Varonis Systems during the fourth quarter valued at approximately $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems during the fourth quarter valued at approximately $61,000. Transce3nd LLC acquired a new position in Varonis Systems during the fourth quarter valued at approximately $62,000. New Age Alpha Advisors LLC acquired a new position in Varonis Systems during the fourth quarter valued at approximately $70,000. Finally, Pacer Advisors Inc. grew its holdings in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after purchasing an additional 603 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

Varonis Systems Stock Up 0.1%

Shares of VRNS stock traded up $0.06 during trading on Friday, reaching $46.82. The company's stock had a trading volume of 705,411 shares, compared to its average volume of 1,533,507. The business has a fifty day moving average price of $42.37 and a 200-day moving average price of $44.61. 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 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 one year low of $36.53 and a one year high of $60.58.

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

Varonis Systems announced that its board has initiated a stock buyback program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

VRNS has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a report on Wednesday, May 7th. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. Wells Fargo & Company reduced their price target on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Finally, UBS Group upped their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Varonis Systems presently has a consensus rating of "Moderate Buy" and an average price target of $55.06.

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.