Varonis Systems, Inc. (NASDAQ:VRNS) Stake Lifted by Trexquant Investment LP

Trexquant Investment LP increased its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 240.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 331,425 shares of the technology company's stock after buying an additional 234,017 shares during the period. Trexquant Investment LP owned 0.29% of Varonis Systems worth $14,725,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cerity Partners LLC lifted its stake in Varonis Systems by 57.9% in the third 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 3rd 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 during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Varonis Systems by 11.3% during the 3rd quarter. Captrust Financial Advisors now owns 8,263 shares of the technology company's stock valued at $467,000 after buying an additional 837 shares during the period. Atom Investors LP purchased a new stake in Varonis Systems during the third quarter valued at approximately $224,000. Finally, Benjamin Edwards Inc. purchased a new position in Varonis Systems during the third quarter valued at $348,000. Hedge funds and other institutional investors own 95.65% of the company's stock.

Varonis Systems Trading Down 5.2 %

VRNS traded down $2.12 during trading on Friday, hitting $38.36. 2,294,460 shares of the company's stock were exchanged, compared to its average volume of 1,483,556. The stock has a 50 day moving average price of $42.29 and a 200 day moving average price of $47.88. Varonis Systems, Inc. has a 1 year low of $37.81 and a 1 year high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.32 billion, a P/E ratio of -44.60 and a beta of 0.76.

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Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. As a group, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of recent research reports. Wolfe Research upgraded Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Friday, March 28th. Piper Sandler lowered 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 note on Monday, January 6th. Morgan Stanley started coverage on shares of Varonis Systems in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Jefferies Financial Group dropped their price objective on Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Finally, Citigroup decreased 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 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.53.

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.