Trexquant Investment LP Has $14.73 Million Holdings in Varonis Systems, Inc. (NASDAQ:VRNS)

Trexquant Investment LP boosted its position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 240.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 331,425 shares of the technology company’s stock after acquiring an additional 234,017 shares during the period. Trexquant Investment LP owned 0.29% of Varonis Systems worth $14,725,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VRNS. William Blair Investment Management LLC boosted its holdings 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 valued at $101,750,000 after purchasing an additional 52,971 shares during the period. Barclays PLC grew its position in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after buying an additional 35,274 shares in the last quarter. Advantage Alpha Capital Partners LP increased its stake in Varonis Systems by 30.1% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock valued at $4,038,000 after acquiring an additional 21,040 shares during the period. Principal Financial Group Inc. raised its holdings 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 acquiring an additional 147,081 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Varonis Systems during the 3rd quarter worth approximately $2,294,000. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Up 1.1 %

NASDAQ:VRNS opened at $40.90 on Wednesday. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of -47.56 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. The stock has a 50-day moving average price of $42.55 and a two-hundred day moving average price of $48.13. Varonis Systems, Inc. has a 1 year low of $39.11 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. As a group, equities analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current 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 shares. This buyback authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VRNS. 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 report on Wednesday, February 5th. Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Citigroup cut their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Morgan Stanley initiated coverage on shares of Varonis Systems in a report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.53.

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.