Varonis Systems, Inc. (NASDAQ:VRNS) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,990 shares of the technology company’s stock after buying an additional 3,873 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Varonis Systems were worth $4,620,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings 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 buying an additional 52,971 shares during the last quarter. Barclays PLC boosted its stake in shares of Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after acquiring an additional 35,274 shares during the last quarter. Citigroup Inc. increased its position in Varonis Systems by 88.4% during the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after purchasing an additional 49,472 shares in the last quarter. Principal Financial Group Inc. raised its stake in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after purchasing an additional 147,081 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Varonis Systems during the third quarter worth about $2,294,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Down 0.8 %

Shares of NASDAQ:VRNS opened at $41.69 on Thursday. The company has a 50 day moving average of $42.85 and a two-hundred day moving average of $48.46. Varonis Systems, Inc. has a 52-week low of $39.11 and a 52-week high of $60.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -48.48 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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%. As a group, analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

VRNS has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on 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. Cantor Fitzgerald began coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. DA Davidson dropped 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. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Finally, Piper Sandler dropped their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and an average target price of $59.38.

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.