6,459 Shares in Varonis Systems, Inc. (NASDAQ:VRNS) Purchased by EntryPoint Capital LLC

EntryPoint Capital LLC purchased a new stake in shares of Varonis Systems, Inc. (NASDAQ:VRNS) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,459 shares of the technology company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in shares of Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after acquiring an additional 603 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems in the 3rd quarter worth about $184,000. R Squared Ltd purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $194,000. KBC Group NV boosted its stake in shares of Varonis Systems by 45.6% during the 4th quarter. KBC Group NV now owns 4,751 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,488 shares in the last quarter. Finally, Atom Investors LP purchased a new position in shares of Varonis Systems during the third quarter valued at about $224,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $41.69 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $42.77 and its 200-day moving average price is $48.41. Varonis Systems, Inc. has a 52-week low of $39.11 and a 52-week high of $60.58. The company has a market cap of $4.69 billion, a PE ratio of -48.48 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Varonis Systems declared that its board has initiated a share repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

VRNS has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Jefferies Financial Group reduced their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Piper Sandler lowered their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target for the company. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

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.