Hsbc Holdings PLC Buys 242,015 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Hsbc Holdings PLC boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 1,319.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,358 shares of the technology company's stock after buying an additional 242,015 shares during the period. Hsbc Holdings PLC owned approximately 0.23% of Varonis Systems worth $11,541,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VRNS. Tower Research Capital LLC TRC increased its holdings in shares of Varonis Systems by 7.4% during 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 in the last quarter. Summit Investment Advisors Inc. grew its position in Varonis Systems by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock valued at $512,000 after purchasing an additional 365 shares during the period. Bailard Inc. increased its stake in Varonis Systems by 0.4% during the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after purchasing an additional 417 shares in the last quarter. Franklin Resources Inc. raised its holdings in Varonis Systems by 1.1% during the fourth 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. Finally, Arizona State Retirement System lifted its stake in shares of Varonis Systems by 1.3% in the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after buying an additional 425 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VRNS has been the subject of several recent research reports. Jefferies Financial Group decreased their target price on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Morgan Stanley lowered their price objective on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler cut their target price on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Barclays lowered their price target on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $56.00.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS traded up $0.30 during mid-day trading on Friday, reaching $43.01. The company had a trading volume of 734,606 shares, compared to its average volume of 1,522,007. The company's 50-day moving average price is $41.09 and its 200-day moving average price is $45.52. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -50.01 and a beta of 0.79. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. As a group, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is 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.