AlphaQuest LLC Acquires 6,195 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

AlphaQuest LLC boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 107.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,978 shares of the technology company’s stock after acquiring an additional 6,195 shares during the quarter. AlphaQuest LLC’s holdings in Varonis Systems were worth $532,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Virtue Capital Management LLC lifted its position in shares of Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after buying an additional 364 shares in the last quarter. Bailard Inc. increased its stake in shares of Varonis Systems by 0.4% during the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after purchasing an additional 417 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Varonis Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 32,531 shares of the technology company’s stock worth $1,445,000 after purchasing an additional 425 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 0.5 %

VRNS opened at $39.94 on Thursday. The company has a fifty day moving average price of $43.55 and a 200-day moving average price of $49.46. The firm has a market capitalization of $4.50 billion, a P/E ratio of -46.44 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 one year low of $39.44 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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%. Equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its board has initiated a share repurchase program on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on VRNS shares. Wells Fargo & Company decreased their price target on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Citigroup decreased their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group reduced their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Finally, Piper Sandler reduced their price objective 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. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.