Graham Capital Management L.P. Increases Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Graham Capital Management L.P. increased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 207.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,894 shares of the technology company's stock after buying an additional 21,514 shares during the period. Graham Capital Management L.P.'s holdings in Varonis Systems were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $36,000. Johnson Financial Group Inc. purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $61,000. Transce3nd LLC purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $62,000. New Age Alpha Advisors LLC purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $70,000. Finally, Pacer Advisors Inc. lifted its holdings in Varonis Systems by 29.5% in the 4th 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. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Up 1.4%

Shares of VRNS traded up $0.62 during midday trading on Friday, hitting $46.32. The company had a trading volume of 1,385,746 shares, compared to its average volume of 1,532,326. The company's 50-day simple moving average is $41.73 and its 200-day simple moving average is $44.82. 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 firm has a market capitalization of $5.18 billion, a P/E ratio of -53.86 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 announced its quarterly earnings data 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). 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 business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. As a group, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared 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 buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

VRNS has been the topic of a number of research reports. StockNews.com upgraded Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Royal Bank of Canada raised their target price on Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company cut 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, 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 research report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.