XTX Topco Ltd Cuts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

XTX Topco Ltd lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 44.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,680 shares of the technology company's stock after selling 6,134 shares during the period. XTX Topco Ltd's holdings in Varonis Systems were worth $341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock worth $544,124,000 after purchasing an additional 193,210 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Varonis Systems by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock valued at $101,750,000 after buying an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Varonis Systems by 1.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company's stock valued at $101,636,000 after purchasing an additional 29,852 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock worth $100,789,000 after buying an additional 147,081 shares during the last quarter. Finally, Norges Bank acquired a new position in Varonis Systems during the 4th quarter valued at approximately $56,561,000. Institutional investors own 95.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. StockNews.com upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a research note on Monday. Cantor Fitzgerald initiated coverage on Varonis Systems in a research report on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price on the stock. Citigroup dropped 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. Finally, Jefferies Financial Group decreased their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Six investment 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

Varonis Systems Stock Performance

Shares of Varonis Systems stock traded up $0.40 during trading on Tuesday, reaching $42.61. The company's stock had a trading volume of 133,838 shares, compared to its average volume of 1,515,029. The business's 50-day moving average price is $41.10 and its 200-day moving average price is $45.89. The firm has a market cap of $4.77 billion, a PE ratio of -49.39 and a beta of 0.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Equities analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has initiated a share buyback plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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.