Sherbrooke Park Advisers LLC Purchases New Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Sherbrooke Park Advisers LLC purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,951 shares of the technology company's stock, valued at approximately $531,000.

A number of other large investors have also recently made changes to their positions in VRNS. Raiffeisen Bank International AG bought a new stake in Varonis Systems in the fourth quarter worth $163,000. ProShare Advisors LLC boosted its holdings in Varonis Systems by 47.9% in the fourth quarter. ProShare Advisors LLC now owns 31,363 shares of the technology company's stock worth $1,393,000 after acquiring an additional 10,157 shares in the last quarter. Man Group plc boosted its holdings in Varonis Systems by 128.0% in the fourth quarter. Man Group plc now owns 352,629 shares of the technology company's stock worth $15,667,000 after acquiring an additional 198,001 shares in the last quarter. Occudo Quantitative Strategies LP raised its stake in shares of Varonis Systems by 5.2% in the fourth quarter. Occudo Quantitative Strategies LP now owns 10,871 shares of the technology company's stock worth $483,000 after purchasing an additional 540 shares during the last quarter. Finally, Graham Capital Management L.P. grew its holdings in Varonis Systems by 207.3% during the fourth quarter. Graham Capital Management L.P. now owns 31,894 shares of the technology company's stock valued at $1,417,000 after purchasing an additional 21,514 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRNS. Barclays dropped their price objective on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of Varonis Systems in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Finally, Morgan Stanley dropped their price target on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Six 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 company's stock. According to MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and an average target price of $55.06.

Varonis Systems Stock Up 0.4%

Shares of Varonis Systems stock traded up $0.20 during trading on Tuesday, reaching $46.53. The company's stock had a trading volume of 829,883 shares, compared to its average volume of 1,536,775. 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 company has a market cap of $5.21 billion, a price-to-earnings ratio of -54.10 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. The company has a 50-day simple moving average of $41.99 and a two-hundred day simple moving average of $44.61.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS 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 in the prior year, the firm posted ($0.03) EPS. The business's revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its board has authorized a share buyback plan on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

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.