Nebula Research & Development LLC Acquires 6,826 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Nebula Research & Development LLC raised its holdings in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 83.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,018 shares of the technology company’s stock after purchasing an additional 6,826 shares during the period. Nebula Research & Development LLC’s holdings in Varonis Systems were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of Varonis Systems in the 4th quarter worth approximately $56,561,000. Groupama Asset Managment bought a new position in shares of Varonis Systems in the 4th quarter worth approximately $55,538,000. Assenagon Asset Management S.A. raised its position in shares of Varonis Systems by 761.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Varonis Systems by 11,353.2% in the 4th quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company’s stock worth $23,917,000 after acquiring an additional 533,600 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Varonis Systems by 114.1% in the 4th quarter. Bank of Montreal Can now owns 979,769 shares of the technology company’s stock worth $43,531,000 after acquiring an additional 522,075 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VRNS. Cantor Fitzgerald began coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. Citigroup cut their price target 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. Jefferies Financial Group cut their price target on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Morgan Stanley cut their price target on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler cut their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Varonis Systems Stock Performance

VRNS stock opened at $42.21 on Tuesday. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The stock’s fifty day moving average price is $41.10 and its 200-day moving average price is $45.89. The company has a market cap of $4.72 billion, a P/E ratio of -49.08 and a beta of 0.76. 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 (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) 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, equities analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Varonis Systems announced that its board has initiated a stock buyback program on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.