R Squared Ltd Makes New Investment in Varonis Systems, Inc. (NASDAQ:VRNS)

R Squared Ltd purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) during the fourth quarter, Holdings Channel reports. The fund purchased 4,360 shares of the technology company’s stock, valued at approximately $194,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the second quarter worth $215,000. Xponance Inc. increased its stake in shares of Varonis Systems by 5.6% in the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after buying an additional 367 shares during the period. Marshall Wace LLP bought a new position in shares of Varonis Systems during the second quarter worth about $260,000. Algert Global LLC acquired a new position in shares of Varonis Systems in the second quarter worth approximately $527,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Varonis Systems in the second quarter valued at approximately $3,838,000. 95.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lowered 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. UBS Group boosted their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays increased their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Cantor Fitzgerald assumed coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective on the stock. Finally, Robert W. Baird raised their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.44.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $44.50 on Thursday. Varonis Systems, Inc. has a one year low of $41.13 and a one year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a 50-day moving average of $46.64 and a 200-day moving average of $51.49.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) earnings per share. As a group, analysts anticipate that Varonis Systems, Inc. will post -0.7 earnings per share for the current fiscal year.

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.