Emerald Advisers LLC Has $41.12 Million Stock Position in Varonis Systems, Inc. (NASDAQ:VRNS)

Emerald Advisers LLC lowered its position in Varonis Systems, Inc. (NASDAQ:VRNS) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 925,542 shares of the technology company’s stock after selling 8,114 shares during the period. Varonis Systems accounts for 1.6% of Emerald Advisers LLC’s portfolio, making the stock its 11th largest holding. Emerald Advisers LLC owned about 0.82% of Varonis Systems worth $41,122,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of VRNS. Quantbot Technologies LP grew its holdings in Varonis Systems by 61.4% during the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after acquiring an additional 43,258 shares during the period. Barclays PLC boosted its stake in Varonis Systems by 10.0% in the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after purchasing an additional 35,274 shares during the period. William Blair Investment Management LLC boosted its stake in Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock worth $101,750,000 after purchasing an additional 52,971 shares during the period. Citigroup Inc. boosted its stake in Varonis Systems by 88.4% in 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 during the period. Finally, Principal Financial Group Inc. lifted its position in Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after buying an additional 147,081 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

NASDAQ VRNS opened at $41.00 on Friday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of -47.67 and a beta of 0.85. 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 $39.11 and a 12 month high of $60.58. The company’s 50 day moving average is $43.05 and its two-hundred day moving average is $48.69.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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, research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Piper Sandler reduced their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Citigroup reduced their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Finally, Jefferies Financial Group dropped their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

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.