Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc cut its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,524 shares of the technology company's stock after selling 346,204 shares during the period. Polar Capital Holdings Plc owned about 0.89% of Varonis Systems worth $44,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Varonis Systems during the fourth quarter worth $36,000. Johnson Financial Group Inc. bought a new stake in shares of Varonis Systems in the 4th quarter worth about $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth about $62,000. New Age Alpha Advisors LLC purchased a new position in Varonis Systems in the 4th quarter worth about $70,000. Finally, Pacer Advisors Inc. increased its stake in Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VRNS has been the topic of a number of research reports. StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group lifted their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Barclays cut their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada lifted their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.06.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded up $0.13 during mid-day trading on Tuesday, reaching $46.46. The company's stock had a trading volume of 205,314 shares, compared to its average volume of 1,532,699. The stock has a 50-day moving average of $41.99 and a two-hundred day moving average of $44.61. The stock has a market capitalization of $5.20 billion, a P/E ratio of -53.98 and a beta of 0.79. 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, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the business posted ($0.03) earnings per share. Varonis Systems's revenue for the quarter was up 19.6% on a year-over-year basis. On average, 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 authorized a share repurchase plan on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are 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.