Stephens Investment Management Group LLC decreased its position in Kornit Digital Ltd (NASDAQ:KRNT) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,424,262 shares of the industrial products company’s stock after selling 11,281 shares during the period. Stephens Investment Management Group LLC owned about 3.53% of Kornit Digital worth $45,092,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Redmond Asset Management LLC boosted its stake in shares of Kornit Digital by 1.5% during the 1st quarter. Redmond Asset Management LLC now owns 28,153 shares of the industrial products company’s stock valued at $670,000 after buying an additional 419 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kornit Digital by 31.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,752 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 419 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Kornit Digital by 70.7% in the 4th quarter. Legal & General Group Plc now owns 2,296 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 951 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of Kornit Digital in the 1st quarter valued at $54,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in shares of Kornit Digital by 27.0% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 19,576 shares of the industrial products company’s stock valued at $620,000 after purchasing an additional 4,156 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:KRNT traded up $0.04 on Thursday, hitting $27.07. 1,756 shares of the company were exchanged, compared to its average volume of 271,684. The firm’s 50 day moving average price is $29.95. Kornit Digital Ltd has a one year low of $16.10 and a one year high of $32.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.23 and a quick ratio of 6.35. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 113.21 and a beta of 1.05.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Kornit Digital had a return on equity of 3.04% and a net margin of 5.69%. The company had revenue of $43.89 million for the quarter, compared to the consensus estimate of $45.91 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts expect that Kornit Digital Ltd will post 0.3 EPS for the current year.
KRNT has been the subject of several analyst reports. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th. BidaskClub raised shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Stifel Nicolaus set a $35.00 price objective on shares of Kornit Digital and gave the company a “buy” rating in a research note on Wednesday, August 7th. TheStreet raised shares of Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $28.00.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
Further Reading: Return on Investment (ROI)
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