Squarepoint Ops LLC Buys 288,336 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Squarepoint Ops LLC raised its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 928,390 shares of the technology company's stock after acquiring an additional 288,336 shares during the quarter. Squarepoint Ops LLC owned approximately 0.83% of Varonis Systems worth $41,248,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Varonis Systems by 7.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock valued at $193,000 after acquiring an additional 298 shares during the last quarter. Teza Capital Management LLC lifted its stake in shares of Varonis Systems by 3.1% during the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock worth $437,000 after buying an additional 299 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Varonis Systems by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock worth $512,000 after buying an additional 365 shares during the last quarter. Bailard Inc. lifted its stake in shares of Varonis Systems by 0.4% during the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock worth $4,160,000 after buying an additional 417 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Varonis Systems by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after buying an additional 424 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRNS. Wells Fargo & Company cut their target price on shares of 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 shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Morgan Stanley cut their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research note on Wednesday, May 7th. Finally, Wolfe Research upgraded 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 analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Stock Performance

NASDAQ:VRNS traded up $0.06 during mid-day trading on Friday, reaching $46.82. 705,411 shares of the company's stock were exchanged, compared to its average volume of 1,534,887. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The firm has a market capitalization of $5.24 billion, a PE ratio of -54.44 and a beta of 0.79. The business's fifty day simple moving average is $42.48 and its two-hundred day simple moving average is $44.52.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued 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 firm had revenue of $136.42 million for the quarter, compared to the consensus estimate 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 was up 19.6% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Analysts anticipate 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 authorized a share buyback 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 buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is 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.