Soma Equity Partners LP Cuts Stake in Varonis Systems, Inc. (NASDAQ:VRNS)

Soma Equity Partners LP lessened its stake in Varonis Systems, Inc. (NASDAQ:VRNS) by 4.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,227,575 shares of the technology company’s stock after selling 109,887 shares during the quarter. Varonis Systems accounts for approximately 5.5% of Soma Equity Partners LP’s holdings, making the stock its 11th largest position. Soma Equity Partners LP’s holdings in Varonis Systems were worth $98,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its position in Varonis Systems by 10.0% in the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after acquiring an additional 35,274 shares in the last quarter. Franklin Resources Inc. raised its holdings in Varonis Systems by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company’s stock valued at $2,383,000 after buying an additional 5,031 shares during the period. Assenagon Asset Management S.A. boosted its stake in Varonis Systems by 761.6% during 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. Oak Ridge Investments LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth about $1,398,000. Finally, AMI Asset Management Corp boosted its stake in shares of Varonis Systems by 91.7% during the 4th quarter. AMI Asset Management Corp now owns 16,456 shares of the technology company’s stock worth $731,000 after purchasing an additional 7,872 shares during the period. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 0.0%

Shares of NASDAQ:VRNS opened at $45.70 on Friday. The firm has a market capitalization of $5.11 billion, a PE ratio of -53.14 and a beta of 0.79. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. 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 firm’s 50-day moving average is $41.73 and its two-hundred day moving average is $44.82.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). The business had revenue of $136.42 million for the quarter, compared to analyst estimates of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. Varonis Systems’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. Analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its Board of Directors has initiated a share repurchase program on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VRNS shares. 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 report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. UBS Group upped their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, March 28th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.06.

Varonis Systems 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.