Soma Equity Partners LP Has $98.97 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Soma Equity Partners LP decreased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,227,575 shares of the technology company's stock after selling 109,887 shares during the period. Varonis Systems comprises 5.5% of Soma Equity Partners LP's portfolio, making the stock its 11th biggest holding. Soma Equity Partners LP owned about 1.98% of Varonis Systems worth $98,971,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in shares of Varonis Systems by 7.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock worth $193,000 after purchasing an additional 298 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Varonis Systems by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock worth $512,000 after buying an additional 365 shares in the last quarter. Bailard Inc. raised its stake in shares of Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after acquiring an additional 417 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Varonis Systems by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after acquiring an additional 424 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Varonis Systems by 1.3% in the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock worth $1,445,000 after acquiring an additional 425 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VRNS. Morgan Stanley cut their price target on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Barclays decreased their price target on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, March 28th. Finally, Jefferies Financial Group reduced their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Trading Up 0.0%

Shares of VRNS traded up $0.01 during trading hours on Monday, reaching $46.33. The stock had a trading volume of 1,692,392 shares, compared to its average volume of 1,537,970. The company has a market cap of $5.19 billion, a P/E ratio of -53.87 and a beta of 0.79. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. 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 50-day moving average of $41.99 and a 200 day moving average of $44.61.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The business had revenue of $136.42 million during the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. During the same period in the previous year, the firm posted ($0.03) earnings per share. The firm's revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has approved a share repurchase program on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership 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.