Blueshift Asset Management LLC Takes $363,000 Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Blueshift Asset Management LLC bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,171 shares of the technology company's stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Varonis Systems by 29.5% in the 4th 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 during the period. Harvest Fund Management Co. Ltd bought a new position in Varonis Systems in the third quarter worth approximately $184,000. R Squared Ltd acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $194,000. KBC Group NV increased its holdings in shares of Varonis Systems by 45.6% during the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock valued at $211,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Atom Investors LP acquired a new position in shares of Varonis Systems during the third quarter worth approximately $224,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

Shares of VRNS traded down $0.35 during mid-day trading on Wednesday, hitting $41.69. The stock had a trading volume of 1,454,204 shares, compared to its average volume of 1,412,538. 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 firm has a market cap of $4.69 billion, a P/E ratio of -48.48 and a beta of 0.85. Varonis Systems, Inc. has a 52 week low of $39.11 and a 52 week high of $60.58. The business has a fifty day moving average price of $42.92 and a 200-day moving average price of $48.51.

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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, equities research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

VRNS has been the subject of several recent research reports. Wells Fargo & Company decreased their target price on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price objective for the company. Piper Sandler dropped their target price on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Morgan Stanley began coverage on Varonis Systems in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, Citigroup dropped their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

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.