Deutsche Bank AG Has $59.47 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Varonis Systems during the 4th quarter worth approximately $56,561,000. Groupama Asset Managment bought a new position in shares of Varonis Systems in the fourth quarter valued at $55,538,000. Assenagon Asset Management S.A. increased its holdings in Varonis Systems by 761.6% during the fourth 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. Renaissance Technologies LLC raised its position in Varonis Systems by 11,353.2% during the fourth quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company's stock worth $23,917,000 after acquiring an additional 533,600 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Varonis Systems by 114.1% during the fourth quarter. Bank of Montreal Can now owns 979,769 shares of the technology company's stock worth $43,531,000 after acquiring an additional 522,075 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Shares of VRNS stock traded up $0.62 on Friday, hitting $46.32. The company's stock had a trading volume of 1,385,746 shares, compared to its average volume of 1,532,326. Varonis Systems, Inc. has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The company has a market capitalization of $5.18 billion, a PE ratio of -53.86 and a beta of 0.79. The stock's 50 day moving average is $41.73 and its 200-day moving average is $44.82. 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 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 for the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. 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) EPS. Equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VRNS shares. Royal Bank of Canada boosted their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. UBS Group boosted their price target on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Barclays dropped their price objective on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock 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. Finally, Citigroup decreased their target price on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Six equities research 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 MarketBeat.com, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average price target of $55.06.

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.