Semanteon Capital Management LP Buys 12,599 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Semanteon Capital Management LP raised its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 63.5% in the 4th quarter, HoldingsChannel reports. The firm owned 32,442 shares of the technology company’s stock after acquiring an additional 12,599 shares during the quarter. Semanteon Capital Management LP’s holdings in Varonis Systems were worth $1,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blueshift Asset Management LLC bought a new stake in shares of Varonis Systems during the fourth quarter worth about $363,000. Magnetar Financial LLC increased its position in shares of Varonis Systems by 477.5% during the fourth quarter. Magnetar Financial LLC now owns 68,011 shares of the technology company’s stock worth $3,022,000 after acquiring an additional 56,234 shares in the last quarter. Xponance Inc. increased its position in shares of Varonis Systems by 9.2% during the fourth quarter. Xponance Inc. now owns 7,883 shares of the technology company’s stock worth $350,000 after acquiring an additional 664 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock worth $101,750,000 after acquiring an additional 52,971 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Varonis Systems during the fourth quarter worth about $458,000. 95.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Stock Down 1.7 %

Varonis Systems stock opened at $41.54 on Friday. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The firm has a 50 day moving average price of $43.13 and a 200-day moving average price of $48.85. The company has a market capitalization of $4.68 billion, a P/E ratio of -48.30 and a beta of 0.85. 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 (NASDAQ:VRNS) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has approved a stock buyback program on Monday, February 10th that allows the company to repurchase $100.00 million in 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.

About Varonis Systems

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.