G2 Investment Partners Management LLC Raises Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

G2 Investment Partners Management LLC raised its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,950 shares of the technology company's stock after buying an additional 18,088 shares during the period. Varonis Systems comprises about 1.9% of G2 Investment Partners Management LLC's investment portfolio, making the stock its 19th biggest holding. G2 Investment Partners Management LLC owned approximately 0.15% of Varonis Systems worth $7,506,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ensign Peak Advisors Inc lifted its stake in Varonis Systems by 11.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 51,230 shares of the technology company's stock worth $2,276,000 after acquiring an additional 5,419 shares during the period. Deutsche Bank AG raised its holdings in Varonis Systems by 97.7% in the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock worth $59,467,000 after purchasing an additional 661,436 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $358,000. Crestline Management LP bought a new stake in shares of Varonis Systems during the 4th quarter valued at about $4,035,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $2,863,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group reduced their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Finally, StockNews.com raised Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS traded up $0.04 during midday trading on Tuesday, hitting $45.88. 1,611,826 shares of the stock traded hands, compared to its average volume of 1,527,922. 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 $5.14 billion, a P/E ratio of -53.35 and a beta of 0.79. The firm has a 50-day moving average of $41.43 and a two-hundred day moving average of $44.89.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) 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 firm 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 business posted ($0.03) earnings per share. The company's revenue for the quarter was up 19.6% on a year-over-year basis. On average, equities analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Varonis Systems Company 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.