Aigen Investment Management LP Has $2 Million Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Aigen Investment Management LP boosted its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 939.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,993 shares of the technology company's stock after purchasing an additional 40,665 shares during the quarter. Aigen Investment Management LP's holdings in Varonis Systems were worth $1,999,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VRNS. Farther Finance Advisors LLC raised its position in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after buying an additional 423 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock worth $140,000 after buying an additional 2,442 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock worth $118,000 after buying an additional 603 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems during the 3rd quarter worth about $184,000. Finally, KBC Group NV grew its stake 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 worth $184,000 after purchasing an additional 663 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on VRNS shares. 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 decreased their price target on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, DA Davidson reduced their target price 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. Six investment 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. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Varonis Systems Price Performance

Shares of VRNS traded down $0.42 during trading hours on Friday, hitting $40.74. The stock had a trading volume of 2,023,543 shares, compared to its average volume of 1,391,221. The company's fifty day moving average is $43.81 and its two-hundred day moving average is $49.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems, Inc. has a 52 week low of $39.62 and a 52 week high of $60.58. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of -47.37 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its 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%. On average, analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its Board of Directors has initiated a stock buyback program on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Varonis Systems 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.