Varonis Systems, Inc. (NASDAQ:VRNS) Shares Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP lifted its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 30.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,881 shares of the technology company’s stock after purchasing an additional 21,040 shares during the quarter. Advantage Alpha Capital Partners LP owned about 0.08% of Varonis Systems worth $4,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in VRNS. Assenagon Asset Management S.A. increased its position in Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after buying an additional 995,274 shares during the period. Raymond James Financial Inc. bought a new stake in Varonis Systems in the 4th quarter valued at about $21,860,000. Wealthfront Advisers LLC acquired a new position in Varonis Systems during the 4th quarter valued at about $17,088,000. Two Sigma Advisers LP increased its stake in shares of Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after purchasing an additional 267,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Varonis Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock valued at $544,124,000 after buying an additional 193,210 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS opened at $41.00 on Monday. Varonis Systems, Inc. has a one year low of $39.11 and a one year high of $60.58. The company has a 50-day moving average of $43.05 and a two-hundred day moving average of $48.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of -47.67 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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%. On average, equities research analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has authorized a share repurchase 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 reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on VRNS shares. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Morgan Stanley started coverage on Varonis Systems in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Piper Sandler decreased 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 report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Finally, DA Davidson decreased their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Six equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.