Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC cut its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 925,542 shares of the technology company’s stock after selling 8,114 shares during the period. Varonis Systems comprises 1.6% of Emerald Advisers LLC’s holdings, making the stock its 11th biggest position. Emerald Advisers LLC’s holdings in Varonis Systems were worth $41,122,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP raised its position in Varonis Systems by 61.4% in the third quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock valued at $6,422,000 after purchasing an additional 43,258 shares during the period. Barclays PLC increased its holdings in Varonis Systems by 10.0% in the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after buying an additional 35,274 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Varonis Systems by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock valued at $101,750,000 after buying an additional 52,971 shares during the last quarter. Citigroup Inc. boosted its stake in Varonis Systems by 88.4% in the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock valued at $5,957,000 after acquiring an additional 49,472 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Trading Down 1.3 %

Shares of NASDAQ VRNS opened at $41.00 on Friday. Varonis Systems, Inc. has a 1-year low of $39.11 and a 1-year high of $60.58. The company has a 50-day moving average of $43.05 and a two-hundred day moving average of $48.69. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $4.61 billion, a PE ratio of -47.67 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued 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 net margin of 17.38% and a negative return on equity of 20.35%. As a group, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has approved a stock buyback 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 purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VRNS shares. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Jefferies Financial Group dropped 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. Wells Fargo & Company dropped their price objective 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. Finally, Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus target price 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.