Quantbot Technologies LP Purchases 95,545 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Quantbot Technologies LP raised its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 84.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,216 shares of the technology company’s stock after purchasing an additional 95,545 shares during the period. Quantbot Technologies LP’s holdings in Varonis Systems were worth $9,295,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Summit Global Investments acquired a new position in shares of Varonis Systems during the fourth quarter valued at $560,000. Semanteon Capital Management LP raised its holdings in shares of Varonis Systems by 63.5% in the fourth quarter. Semanteon Capital Management LP now owns 32,442 shares of the technology company’s stock valued at $1,441,000 after purchasing an additional 12,599 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Varonis Systems in the fourth quarter valued at about $363,000. Magnetar Financial LLC boosted its holdings in shares of Varonis Systems by 477.5% in the 4th quarter. Magnetar Financial LLC now owns 68,011 shares of the technology company’s stock valued at $3,022,000 after buying an additional 56,234 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Varonis Systems by 9.2% during the fourth quarter. Xponance Inc. now owns 7,883 shares of the technology company’s stock worth $350,000 after purchasing an additional 664 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Cantor Fitzgerald started coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, Jefferies Financial Group cut their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Price Performance

VRNS stock opened at $39.16 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a fifty-two week low of $39.11 and a fifty-two week high of $60.58. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of -45.53 and a beta of 0.85. The business has a 50 day moving average price of $43.44 and a 200 day moving average price of $49.39.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. Equities research analysts anticipate 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 share buyback plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is 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.