Brevan Howard Capital Management LP Invests $2.86 Million in Varonis Systems, Inc. (NASDAQ:VRNS)

Brevan Howard Capital Management LP bought a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the 4th quarter, HoldingsChannel reports. The firm bought 64,428 shares of the technology company’s stock, valued at approximately $2,863,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 worth $544,124,000 after acquiring an additional 193,210 shares during the last quarter. First Trust Advisors LP grew its position in Varonis Systems by 4.8% during the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company’s stock worth $111,145,000 after purchasing an additional 113,573 shares during the last quarter. William Blair Investment Management LLC increased its stake in Varonis Systems by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock valued at $101,750,000 after purchasing an additional 52,971 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Varonis Systems by 1.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company’s stock worth $101,636,000 after buying an additional 29,852 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Varonis Systems by 12.3% during the fourth quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company’s stock worth $94,053,000 after buying an additional 231,998 shares during the period. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $43.85 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems, Inc. has a 12-month low of $36.53 and a 12-month high of $60.58. The business’s 50 day moving average is $41.11 and its two-hundred day moving average is $45.32. The company has a market capitalization of $4.91 billion, a P/E ratio of -50.99 and a beta of 0.79.

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 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%. Analysts expect that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

VRNS has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Morgan Stanley decreased their target price on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald started coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Barclays reduced their price target on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Finally, Citigroup dropped their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

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.