XTX Topco Ltd Decreases Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

XTX Topco Ltd trimmed its position in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 44.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,680 shares of the technology company's stock after selling 6,134 shares during the quarter. XTX Topco Ltd's holdings in Varonis Systems were worth $341,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. boosted its position in shares of Varonis Systems by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock valued at $512,000 after purchasing an additional 365 shares during the period. Bailard Inc. boosted its holdings in shares of Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after acquiring an additional 417 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Varonis Systems by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 40,209 shares of the technology company's stock valued at $1,786,000 after acquiring an additional 424 shares during the period. Arizona State Retirement System grew its position in shares of Varonis Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 32,531 shares of the technology company's stock worth $1,445,000 after acquiring an additional 425 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Varonis Systems by 0.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 75,440 shares of the technology company's stock valued at $3,352,000 after acquiring an additional 600 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Trading Up 1.5 %

Varonis Systems stock traded up $0.63 during trading on Friday, hitting $42.28. The company's stock had a trading volume of 1,070,313 shares, compared to its average volume of 1,523,814. The stock's fifty day moving average is $41.13 and its 200 day moving average is $46.19. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -49.16 and a beta of 0.76. 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 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%. As a group, equities research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems announced that its board has initiated a share buyback program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

VRNS has been the topic of several research reports. Jefferies Financial Group lowered their price objective on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. StockNews.com downgraded Varonis Systems from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Wells Fargo & Company lowered their target price on 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. Piper Sandler cut their price target on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Citigroup decreased their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Varonis Systems presently has an average rating of "Moderate Buy" and a consensus target price 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.