12,613 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Bought by Summit Global Investments

Summit Global Investments bought a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,613 shares of the technology company's stock, valued at approximately $560,000.

Several other institutional investors also recently bought and sold shares of VRNS. Natixis Advisors LLC grew its position in Varonis Systems by 138.9% during the 3rd quarter. Natixis Advisors LLC now owns 28,490 shares of the technology company's stock worth $1,610,000 after purchasing an additional 16,565 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Varonis Systems in the third quarter valued at approximately $1,801,000. Charles Schwab Investment Management Inc. increased its holdings in Varonis Systems by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company's stock worth $54,405,000 after buying an additional 59,218 shares during the period. Citigroup Inc. raised its position in Varonis Systems by 88.4% during the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company's stock worth $5,957,000 after buying an additional 49,472 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings 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 valued at $577,000 after acquiring an additional 3,747 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler decreased their target price 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. 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. Needham & Company LLC reissued a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Morgan Stanley initiated coverage on shares of Varonis Systems in a research note on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, DA Davidson reduced their price target on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $58.82.

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Varonis Systems Trading Down 0.1 %

VRNS traded down $0.05 during trading on Friday, hitting $41.64. The company's stock had a trading volume of 1,056,128 shares, compared to its average volume of 1,473,849. The stock has a market cap of $4.69 billion, a PE ratio of -48.42 and a beta of 0.85. 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, Inc. has a twelve month low of $39.11 and a twelve month high of $60.58. The firm's 50 day moving average price is $42.77 and its 200-day moving average price is $48.41.

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 (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, analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its board has initiated a share repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.