Tremblant Capital Group Buys 13,300 Shares of Varonis Systems, Inc. (NASDAQ:VRNS)

Tremblant Capital Group increased its stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 598,271 shares of the technology company’s stock after buying an additional 13,300 shares during the quarter. Varonis Systems accounts for 2.8% of Tremblant Capital Group’s investment portfolio, making the stock its 16th largest holding. Tremblant Capital Group owned 0.53% of Varonis Systems worth $26,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Varonis Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock worth $544,124,000 after buying an additional 193,210 shares in the last quarter. First Trust Advisors LP grew its stake in Varonis Systems by 4.8% in the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company’s stock valued at $111,145,000 after purchasing an additional 113,573 shares during the period. William Blair Investment Management LLC grew 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 valued at $101,750,000 after purchasing an additional 52,971 shares during the period. Pictet Asset Management Holding SA grew its stake in Varonis Systems by 1.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company’s stock valued at $101,636,000 after purchasing an additional 29,852 shares during the period. Finally, Hood River Capital Management LLC grew its stake in Varonis Systems by 12.3% in the 4th quarter. Hood River Capital Management LLC now owns 2,116,882 shares of the technology company’s stock valued at $94,053,000 after purchasing an additional 231,998 shares during the period. Institutional investors own 95.65% of the company’s stock.

Analyst Ratings Changes

VRNS has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective 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. Jefferies Financial Group reduced their price objective on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Barclays reduced their price objective on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley reduced their price objective on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.06.

Varonis Systems Stock Performance

Shares of VRNS opened at $46.32 on Monday. The stock’s 50-day simple moving average is $41.87 and its 200 day simple moving average is $44.68. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -53.86 and a beta of 0.79. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems, Inc. has a 52-week low of $36.53 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). The company had revenue of $136.42 million for the quarter, compared to analysts’ expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Research analysts forecast that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has authorized a stock repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding 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 often an indication that the company’s leadership 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.