Varonis Systems, Inc. (NASDAQ:VRNS) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC grew its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,392 shares of the technology company’s stock after acquiring an additional 7,615 shares during the period. Ieq Capital LLC’s holdings in Varonis Systems were worth $7,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in VRNS. Farther Finance Advisors LLC increased its stake in Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after buying an additional 603 shares in the last quarter. International Assets Investment Management LLC increased its stake in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares in the last quarter. KBC Group NV lifted its position in shares of Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after acquiring an additional 663 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems in the third quarter valued at $184,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VRNS shares. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Jefferies Financial Group lowered their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $43.09 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $44.61 and a 200-day moving average of $50.75. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -50.10 and a beta of 0.83. Varonis Systems, Inc. has a fifty-two week low of $39.62 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. As a group, sell-side analysts predict 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 approved a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is 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.