ExodusPoint Capital Management LP Makes New $560,000 Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

ExodusPoint Capital Management LP purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,598 shares of the technology company's stock, valued at approximately $560,000.

Other institutional investors have also added to or reduced their stakes in the company. Bailard Inc. lifted its stake in shares of Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after acquiring an additional 417 shares during the last quarter. Franklin Resources Inc. increased its stake in Varonis Systems by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock worth $1,786,000 after purchasing an additional 424 shares during the period. Arizona State Retirement System lifted its position in Varonis Systems by 1.3% in the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock valued at $1,445,000 after purchasing an additional 425 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Varonis Systems by 0.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company's stock valued at $3,352,000 after purchasing an additional 600 shares during the period. Finally, Pacer Advisors Inc. grew 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 worth $118,000 after purchasing an additional 603 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Varonis Systems Stock Down 3.1 %

Shares of Varonis Systems stock traded down $1.31 during trading on Wednesday, hitting $40.37. The company's stock had a trading volume of 458,754 shares, compared to its average volume of 1,506,751. Varonis Systems, Inc. has a 52 week low of $36.53 and a 52 week high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day simple moving average of $41.51 and a two-hundred day simple moving average of $46.95. The company has a market capitalization of $4.54 billion, a PE ratio of -46.94 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced 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%. Equities research analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its board has approved a share repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRNS. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, March 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. StockNews.com cut Varonis Systems from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Jefferies Financial Group lowered their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Finally, Piper Sandler cut their price objective on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.11.

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.