Groupama Asset Managment Takes $55.54 Million Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Groupama Asset Managment bought a new stake 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 firm bought 1,250,000 shares of the technology company's stock, valued at approximately $55,538,000. Groupama Asset Managment owned approximately 1.11% of Varonis Systems at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in VRNS. William Blair Investment Management LLC grew its position in shares of Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock valued at $101,750,000 after acquiring an additional 52,971 shares during the period. Barclays PLC grew its holdings in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company's stock worth $22,007,000 after purchasing an additional 35,274 shares during the period. Advantage Alpha Capital Partners LP grew its holdings in Varonis Systems by 30.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock worth $4,038,000 after purchasing an additional 21,040 shares during the period. Citigroup Inc. raised its stake in Varonis Systems by 88.4% in the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company's stock valued at $5,957,000 after buying an additional 49,472 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after buying an additional 147,081 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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Varonis Systems Price Performance

Shares of VRNS stock traded down $2.12 during trading hours on Friday, reaching $38.36. The company's stock had a trading volume of 2,294,460 shares, compared to its average volume of 1,483,556. 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, Inc. has a fifty-two week low of $37.81 and a fifty-two week high of $60.58. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -44.60 and a beta of 0.76. The firm's 50 day simple moving average is $42.29 and its 200-day simple moving average is $47.88.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) 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%. Sell-side analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Friday, March 28th. Wells Fargo & Company decreased their price target 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. DA Davidson cut their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. 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. Finally, Jefferies Financial Group lowered their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $58.53.

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.