Varonis Systems, Inc. (NASDAQ:VRNS) Shares Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC increased its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,116,882 shares of the technology company’s stock after acquiring an additional 231,998 shares during the period. Varonis Systems makes up about 1.4% of Hood River Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Hood River Capital Management LLC owned approximately 1.88% of Varonis Systems worth $94,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Transce3nd LLC purchased a new position in shares of Varonis Systems in the 4th quarter valued at $62,000. New Age Alpha Advisors LLC acquired a new stake in Varonis Systems in the fourth quarter worth approximately $70,000. Pacer Advisors Inc. raised its holdings in Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after buying an additional 603 shares during the period. Tower Research Capital LLC TRC lifted its position in Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock worth $193,000 after buying an additional 298 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Varonis Systems in the fourth quarter worth $194,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays decreased their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. 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. Jefferies Financial Group lowered their target price on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, March 31st. Citigroup cut their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley cut their price target on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.11.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $40.35 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems, Inc. has a 1-year low of $36.53 and a 1-year high of $60.58. The business has a 50 day simple moving average of $41.27 and a two-hundred day simple moving average of $46.41. The stock has a market capitalization of $4.54 billion, a PE ratio of -46.92 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. On average, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.