Edgestream Partners L.P. Acquires 29,729 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Edgestream Partners L.P. raised its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 52.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 86,526 shares of the technology company’s stock after buying an additional 29,729 shares during the period. Edgestream Partners L.P.’s holdings in Varonis Systems were worth $3,844,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP grew its stake in shares of Varonis Systems by 61.4% during the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after acquiring an additional 43,258 shares in the last quarter. Lisanti Capital Growth LLC grew its stake in shares of Varonis Systems by 17.0% in the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after buying an additional 10,820 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Varonis Systems during the third quarter worth $1,872,000. Barclays PLC increased its holdings in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after buying an additional 35,274 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Varonis Systems by 88.4% during the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after buying an additional 49,472 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group cut their target price 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. Wells Fargo & Company cut their target price 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. Piper Sandler cut their target price 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. Finally, StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Six equities research 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, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.38.

Varonis Systems Stock Down 1.0 %

Varonis Systems stock opened at $40.74 on Friday. The stock has a market cap of $4.59 billion, a P/E ratio of -47.37 and a beta of 0.85. 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 twelve month low of $39.62 and a twelve month high of $60.58. The company’s 50-day moving average price is $43.81 and its two-hundred day moving average price is $49.81.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS 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, analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current 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 outstanding shares. This buyback authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Varonis Systems Company 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.