Trexquant Investment LP Has $14.73 Million Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Trexquant Investment LP raised its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 240.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 331,425 shares of the technology company’s stock after acquiring an additional 234,017 shares during the quarter. Trexquant Investment LP’s holdings in Varonis Systems were worth $14,725,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC acquired a new stake in shares of Varonis Systems in the fourth quarter valued at about $70,000. Pacer Advisors Inc. increased its position 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. R Squared Ltd bought a new stake in shares of Varonis Systems during the 4th quarter worth approximately $194,000. KBC Group NV boosted its holdings in shares of Varonis Systems by 45.6% in the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after buying an additional 1,488 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Varonis Systems in the third quarter valued at $224,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

VRNS opened at $40.90 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a 52-week low of $39.11 and a 52-week high of $60.58. The firm has a market cap of $4.60 billion, a P/E ratio of -47.56 and a beta of 0.85. The business’s fifty day moving average is $42.55 and its 200-day moving average is $48.13.

Varonis Systems (NASDAQ:VRNS) last released 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 net margin of 17.38% and a negative return on equity of 20.35%. Sell-side analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have commented on VRNS shares. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. Piper Sandler reduced their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Jefferies Financial Group dropped their price objective on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday. DA Davidson reduced their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Finally, Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Friday, March 28th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.53.

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.