Varonis Systems, Inc. (NASDAQ:VRNS) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 97.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,338,452 shares of the technology company's stock after purchasing an additional 661,436 shares during the quarter. Deutsche Bank AG owned 1.19% of Varonis Systems worth $59,467,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays reduced their target price 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research note on Wednesday, May 7th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Six 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. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.06.

Varonis Systems Price Performance

Shares of VRNS traded up $0.62 during midday trading on Friday, hitting $46.32. 1,385,746 shares of the company traded hands, compared to its average volume of 1,537,350. The firm has a 50 day moving average of $41.87 and a 200-day moving average of $44.68. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of -53.86 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 (NASDAQ:VRNS - Get Free Report) last announced 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 net margin of 17.38% and a negative return on equity of 20.35%. The business had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. During the same period in the previous year, the business posted ($0.03) EPS. The firm's revenue was up 19.6% on a year-over-year basis. On average, analysts forecast 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 outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are 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.