Blueshift Asset Management LLC Buys Shares of 8,171 Varonis Systems, Inc. (NASDAQ:VRNS)

Blueshift Asset Management LLC purchased a new position in Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,171 shares of the technology company’s stock, valued at approximately $363,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. increased 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 worth $50,026,000 after purchasing an additional 995,274 shares during the period. Raymond James Financial Inc. purchased a new position in Varonis Systems in the 4th quarter worth about $21,860,000. Wealthfront Advisers LLC purchased a new position in Varonis Systems in the 4th quarter worth about $17,088,000. Two Sigma Advisers LP lifted its holdings in Varonis Systems by 46.7% during the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after buying an additional 267,000 shares in the last quarter. Finally, Thematics Asset Management boosted its position in Varonis Systems by 40.2% in the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after buying an additional 152,000 shares during the period. 95.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRNS. DA Davidson decreased their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Jefferies Financial Group cut their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, Wells Fargo & Company lowered 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. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Price Performance

Shares of VRNS opened at $41.00 on Friday. The company has a 50 day moving average of $43.05 and a two-hundred day moving average of $48.74. 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 $39.11 and a twelve month high of $60.58. The company 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 posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

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