Varonis Systems, Inc. (NASDAQ:VRNS) Holdings Boosted by Olympiad Research LP

Olympiad Research LP boosted its holdings in Varonis Systems, Inc. (NASDAQ:VRNS) by 25.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,161 shares of the technology company’s stock after acquiring an additional 2,073 shares during the period. Olympiad Research LP’s holdings in Varonis Systems were worth $451,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after buying an additional 603 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares during the last quarter. KBC Group NV raised its holdings in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after buying an additional 663 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Varonis Systems during the third quarter valued at approximately $184,000. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Trading Down 0.3 %

Varonis Systems stock opened at $42.97 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -49.96 and a beta of 0.83. Varonis Systems, Inc. has a 1 year low of $39.62 and a 1 year high of $60.58. The firm’s 50 day moving average price is $44.53 and its two-hundred day moving average price is $50.69.

Varonis Systems (NASDAQ:VRNS) last posted 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%. On average, research analysts predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRNS. Piper Sandler cut their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company cut 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. 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 report on Thursday, December 19th. DA Davidson cut their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and an average target price of $59.38.

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.