Y Intercept Hong Kong Ltd Invests $275,000 in Varonis Systems, Inc. (NASDAQ:VRNS)

Y Intercept Hong Kong Ltd bought a new stake in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,179 shares of the technology company's stock, valued at approximately $275,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Olympiad Research LP raised its position in shares of Varonis Systems by 25.6% during the fourth quarter. Olympiad Research LP now owns 10,161 shares of the technology company's stock worth $451,000 after purchasing an additional 2,073 shares during the period. Handelsbanken Fonder AB raised its position in shares of Varonis Systems by 31.2% during the fourth quarter. Handelsbanken Fonder AB now owns 28,600 shares of the technology company's stock worth $1,271,000 after purchasing an additional 6,800 shares during the period. Ieq Capital LLC raised its position in shares of Varonis Systems by 4.9% during the fourth quarter. Ieq Capital LLC now owns 162,392 shares of the technology company's stock worth $7,215,000 after purchasing an additional 7,615 shares during the period. Peregrine Capital Management LLC raised its position in shares of Varonis Systems by 4.9% during the fourth quarter. Peregrine Capital Management LLC now owns 267,305 shares of the technology company's stock worth $11,876,000 after purchasing an additional 12,555 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Varonis Systems by 2.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,373 shares of the technology company's stock worth $1,883,000 after purchasing an additional 877 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

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Varonis Systems Stock Down 1.0 %

VRNS stock traded down $0.42 during mid-day trading on Friday, reaching $40.74. The company had a trading volume of 2,023,543 shares, compared to its average volume of 1,388,591. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $43.81 and a two-hundred day simple moving average of $49.86. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -47.37 and a beta of 0.83. Varonis Systems, Inc. has a 52 week low of $39.62 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. As a group, equities analysts predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a stock 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 repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on VRNS. Citigroup dropped their price target on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. DA Davidson dropped their price target on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. Piper Sandler decreased their price objective on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, Jefferies Financial Group decreased their price objective on Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.38.

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.