Varonis Systems, Inc. (NASDAQ:VRNS) Short Interest Update

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 10,310,000 shares, a decline of 13.4% from the February 28th total of 11,900,000 shares. Approximately 9.4% of the shares of the company are sold short. Based on an average trading volume of 1,700,000 shares, the short-interest ratio is currently 6.1 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Cerity Partners LLC increased its holdings in Varonis Systems by 57.9% during the 3rd quarter. Cerity Partners LLC now owns 10,220 shares of the technology company's stock worth $577,000 after purchasing an additional 3,747 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Varonis Systems by 31.7% during 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 in the last quarter. Captrust Financial Advisors grew its holdings in shares of Varonis Systems by 11.3% during the third quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company's stock valued at $467,000 after purchasing an additional 837 shares during the last quarter. Atom Investors LP acquired a new stake in shares of Varonis Systems during the 3rd quarter worth approximately $224,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Varonis Systems in the 3rd quarter worth approximately $348,000. Institutional investors and hedge funds own 95.65% of the company's stock.

Analyst Ratings Changes

VRNS has been the subject of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. DA Davidson reduced 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 began coverage on Varonis Systems in a research report on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price on the stock. Jefferies Financial Group reduced their price target on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a report on Monday, March 31st. 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 report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems has an average rating of "Moderate Buy" and a consensus target price of $58.53.

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Varonis Systems Stock Down 5.2 %

Varonis Systems stock traded down $2.12 during midday trading on Friday, hitting $38.36. 2,294,460 shares of the company were exchanged, compared to its average volume of 1,483,556. The company has a market cap of $4.32 billion, a PE ratio of -44.60 and a beta of 0.76. Varonis Systems has a fifty-two week low of $37.81 and a fifty-two week high of $60.58. The company's fifty day moving average price is $42.29 and its 200-day moving average price is $47.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates 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, research analysts predict that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has approved a stock buyback 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 reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.