Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC trimmed its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,005 shares of the technology company's stock after selling 9,227 shares during the quarter. Granahan Investment Management LLC owned about 0.12% of Varonis Systems worth $6,087,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. G2 Investment Partners Management LLC lifted its holdings in shares of Varonis Systems by 12.0% during the fourth quarter. G2 Investment Partners Management LLC now owns 168,950 shares of the technology company's stock worth $7,506,000 after purchasing an additional 18,088 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of Varonis Systems by 11.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 51,230 shares of the technology company's stock worth $2,276,000 after acquiring an additional 5,419 shares during the period. Deutsche Bank AG boosted its holdings in shares of Varonis Systems by 97.7% in the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after acquiring an additional 661,436 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Varonis Systems during the fourth quarter worth about $358,000. Finally, Crestline Management LP purchased a new position in Varonis Systems during the fourth quarter worth about $4,035,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Trading Down 0.4 %

Shares of VRNS stock opened at $45.30 on Friday. Varonis Systems, Inc. has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of -52.67 and a beta of 0.79. The firm has a 50-day moving average price of $41.35 and a 200 day moving average price of $45.13. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced 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). The firm had revenue of $136.42 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. Research analysts forecast 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 initiated a share repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VRNS shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 target price on shares of Varonis Systems in a research report on Wednesday. Barclays dropped their price objective on Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their target price on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Friday, March 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.

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