Sherbrooke Park Advisers LLC Invests $531,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

Sherbrooke Park Advisers LLC purchased a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,951 shares of the technology company's stock, valued at approximately $531,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRNS. Quarry LP bought a new position in Varonis Systems in the 4th quarter valued at about $36,000. Johnson Financial Group Inc. bought a new position in shares of Varonis Systems in the fourth quarter worth about $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems during the 4th quarter valued at approximately $62,000. New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems during the 4th quarter valued at approximately $70,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Varonis Systems by 29.5% during 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 currently owned by institutional investors and hedge funds.

Varonis Systems Stock Up 0.6%

NASDAQ:VRNS traded up $0.29 during trading hours on Thursday, reaching $46.60. The company had a trading volume of 340,499 shares, compared to its average volume of 1,533,193. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -54.18 and a beta of 0.79. The business's 50-day simple moving average is $42.27 and its two-hundred day simple moving average is $44.64. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted 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). 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 for the quarter, compared to analyst estimates of $133.10 million. During the same period last year, the company posted ($0.03) earnings per share. The firm's quarterly revenue was up 19.6% compared to the same quarter last year. On average, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its board has approved a stock repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

Analysts Set New Price Targets

VRNS has been the topic of a number of recent research reports. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $60.00 price target on shares of Varonis Systems in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Barclays lowered their target price 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. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.06.

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.