Fox Run Management L.L.C. Acquires Shares of 38,790 Varonis Systems, Inc. (NASDAQ:VRNS)

Fox Run Management L.L.C. bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 38,790 shares of the technology company’s stock, valued at approximately $1,723,000. Varonis Systems makes up approximately 0.3% of Fox Run Management L.L.C.’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors have also recently modified their holdings of the business. Pacer Advisors Inc. boosted its position in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Varonis Systems during the 3rd quarter valued at approximately $184,000. Atom Investors LP acquired a new stake in Varonis Systems in the 3rd quarter valued at $224,000. Tidal Investments LLC purchased a new stake in Varonis Systems in the 3rd quarter worth $232,000. Finally, R Squared Ltd acquired a new position in Varonis Systems during the fourth quarter worth $194,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Stock Down 1.3 %

VRNS stock opened at $41.00 on Friday. The firm’s 50 day moving average price is $43.05 and its 200-day moving average price is $48.74. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $4.61 billion, a PE ratio of -47.67 and a beta of 0.85. Varonis Systems, Inc. has a one year low of $39.11 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results 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%. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. 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 reduced their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. DA Davidson lowered their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Finally, StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

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.