Soma Equity Partners LP Sells 109,887 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Soma Equity Partners LP trimmed its holdings in 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 and 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 about 5.5% of Soma Equity Partners LP's investment portfolio, making the stock its 11th largest holding. Soma Equity Partners LP owned about 1.98% of Varonis Systems worth $98,971,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VRNS. Barclays PLC raised its holdings in shares of Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company's stock worth $22,007,000 after acquiring an additional 35,274 shares during the period. Franklin Resources Inc. lifted its position in Varonis Systems by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock worth $2,383,000 after buying an additional 5,031 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Varonis Systems by 761.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock worth $50,026,000 after buying an additional 995,274 shares during the last quarter. Oak Ridge Investments LLC acquired a new position in shares of Varonis Systems during the 4th quarter worth about $1,398,000. Finally, AMI Asset Management Corp grew its holdings in shares of Varonis Systems by 91.7% in the 4th quarter. AMI Asset Management Corp now owns 16,456 shares of the technology company's stock valued at $731,000 after acquiring an additional 7,872 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VRNS shares. Royal Bank of Canada increased their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Needham & Company LLC restated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Trading Down 0.3%

Shares of Varonis Systems stock traded down $0.12 on Wednesday, hitting $46.41. The stock had a trading volume of 325,855 shares, compared to its average volume of 1,532,043. The stock has a 50 day moving average of $41.99 and a 200 day moving average of $44.61. The firm has a market capitalization of $5.19 billion, a P/E ratio of -53.96 and a beta of 0.79. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data 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). The company 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%. The business's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) earnings per share. 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 has authorized 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 generally a sign that the company's leadership 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.