Ieq Capital LLC Has $7.22 Million Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Ieq Capital LLC increased its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,392 shares of the technology company’s stock after purchasing an additional 7,615 shares during the quarter. Ieq Capital LLC owned approximately 0.14% of Varonis Systems worth $7,215,000 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 company. Geode Capital Management LLC raised its position in Varonis Systems by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock worth $147,801,000 after acquiring an additional 29,050 shares in the last quarter. Principal Financial Group Inc. grew its position in Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after buying an additional 147,081 shares in the last quarter. Assenagon Asset Management S.A. raised its stake 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 valued at $50,026,000 after purchasing an additional 995,274 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Varonis Systems by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock worth $54,405,000 after acquiring an additional 59,218 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Varonis Systems by 46.7% in the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock worth $47,415,000 after purchasing an additional 267,000 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. DA Davidson decreased their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Piper Sandler dropped their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group cut their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup reduced their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Stock Performance

Shares of VRNS opened at $43.09 on Friday. The stock has a 50-day simple moving average of $44.61 and a 200-day simple moving average of $50.75. The stock has a market capitalization of $4.85 billion, a PE ratio of -50.10 and a beta of 0.83. Varonis Systems, Inc. has a 1 year low of $39.62 and a 1 year high of $60.58. 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 (NASDAQ:VRNS) last announced its quarterly 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%. On average, analysts predict 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 allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.