Renaissance Technologies LLC Raises Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Renaissance Technologies LLC increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 11,353.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 538,300 shares of the technology company's stock after purchasing an additional 533,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.48% of Varonis Systems worth $23,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of VRNS. New Age Alpha Advisors LLC purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $70,000. Pacer Advisors Inc. raised its position 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 worth $118,000 after acquiring an additional 603 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Varonis Systems in the 3rd quarter valued at approximately $232,000. R Squared Ltd bought a new stake in shares of Varonis Systems during the fourth quarter valued at approximately $194,000. Finally, KBC Group NV grew its stake in Varonis Systems by 45.6% in the fourth quarter. KBC Group NV now owns 4,751 shares of the technology company's stock worth $211,000 after purchasing an additional 1,488 shares during the period. Institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Down 1.1 %

VRNS stock traded down $0.44 during mid-day trading on Friday, reaching $40.39. 819,623 shares of the stock traded hands, compared to its average volume of 1,508,480. The stock has a market capitalization of $4.55 billion, a PE ratio of -46.96 and a beta of 0.76. Varonis Systems, Inc. has a one year low of $36.53 and a one year high of $60.58. The business has a 50-day moving average price of $41.46 and a two-hundred day moving average price of $46.80. 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 (NASDAQ:VRNS - Get Free Report) last issued its quarterly 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%. Equities research analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has authorized a stock buyback program 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 programs are generally a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Varonis Systems from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Piper Sandler cut their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Needham & Company LLC reiterated a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Friday, March 28th. Finally, Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.11.

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.