Varonis Systems, Inc. (NASDAQ:VRNS) Stock Position Raised by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 45.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 928,390 shares of the technology company's stock after acquiring an additional 288,336 shares during the quarter. Squarepoint Ops LLC owned 0.83% of Varonis Systems worth $41,248,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VRNS. Quarry LP purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $36,000. Johnson Financial Group Inc. purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $61,000. Transce3nd LLC purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $62,000. New Age Alpha Advisors LLC purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $70,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Varonis Systems by 29.5% in 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 in the last quarter. 95.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRNS. JPMorgan Chase & Co. reduced their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a report on Wednesday, May 7th. 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. Finally, Royal Bank of Canada increased their price objective on Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Price Performance

NASDAQ VRNS opened at $46.33 on Tuesday. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $5.19 billion, a PE ratio of -53.87 and a beta of 0.79. The stock has a 50-day simple moving average of $41.99 and a 200 day simple moving average of $44.61.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $133.10 million. During the same period in the prior year, the firm posted ($0.03) EPS. Varonis Systems's revenue for the quarter was up 19.6% on a year-over-year basis. Research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a share repurchase 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 typically an indication that the company's leadership believes its shares are 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.

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