EntryPoint Capital LLC Takes Position in Varonis Systems, Inc. (NASDAQ:VRNS)

EntryPoint Capital LLC purchased a new position in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,459 shares of the technology company’s stock, valued at approximately $287,000.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after purchasing an additional 995,274 shares during the period. Raymond James Financial Inc. bought a new position in Varonis Systems in the 4th quarter worth approximately $21,860,000. Wealthfront Advisers LLC bought a new position in Varonis Systems in the 4th quarter worth approximately $17,088,000. Two Sigma Advisers LP grew its stake in Varonis Systems by 46.7% in the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after buying an additional 267,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Varonis Systems by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock valued at $544,124,000 after acquiring an additional 193,210 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $41.69 on Friday. 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 $39.11 and a 52-week high of $60.58. The company has a fifty day moving average of $42.77 and a 200-day moving average of $48.41. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -48.48 and a beta of 0.85.

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

Varonis Systems declared that its Board of Directors has approved a stock repurchase program on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Piper Sandler decreased their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.