EntryPoint Capital LLC Invests $287,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

EntryPoint Capital LLC purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,459 shares of the technology company's stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Varonis Systems by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company's stock valued at $54,405,000 after acquiring an additional 59,218 shares during the period. Citigroup Inc. increased its position in shares of Varonis Systems by 88.4% during the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company's stock valued at $5,957,000 after purchasing an additional 49,472 shares during the period. Cerity Partners LLC raised its stake in shares of Varonis Systems by 57.9% in the 3rd quarter. Cerity Partners LLC now owns 10,220 shares of the technology company's stock worth $577,000 after buying an additional 3,747 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems in the 3rd quarter worth $184,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Varonis Systems by 31.7% in the third quarter. BNP Paribas Financial Markets now owns 81,191 shares of the technology company's stock valued at $4,587,000 after buying an additional 19,561 shares during the period. 95.65% of the stock is currently owned by institutional investors.

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Varonis Systems Stock Up 1.1 %

Shares of NASDAQ VRNS traded up $0.45 during mid-day trading on Tuesday, reaching $40.90. The company had a trading volume of 941,736 shares, compared to its average volume of 1,474,186. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The stock's 50 day moving average is $42.55 and its 200-day moving average is $48.13. The stock has a market capitalization of $4.60 billion, a PE ratio of -47.56 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued 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%. As a group, equities analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share buyback plan on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

VRNS has been the topic of several research reports. Citigroup dropped their price target on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company dropped their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. DA Davidson reduced their price objective on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. Wolfe Research raised Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research report on Friday. Finally, StockNews.com raised Varonis Systems from a "sell" rating to a "hold" rating in a report on Saturday, March 8th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and an average target price of $58.53.

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.