Pathstone Holdings LLC Raises Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Pathstone Holdings LLC increased its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 859,668 shares of the industrial products company’s stock after acquiring an additional 6,503 shares during the quarter. Pathstone Holdings LLC owned approximately 1.81% of Kornit Digital worth $26,607,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Kornit Digital by 130.1% in the third quarter. Barclays PLC now owns 20,420 shares of the industrial products company’s stock worth $527,000 after buying an additional 11,544 shares during the last quarter. JPMorgan Chase & Co. raised its position in Kornit Digital by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 23,779 shares of the industrial products company’s stock worth $614,000 after acquiring an additional 1,284 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Kornit Digital by 421.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock worth $14,567,000 after purchasing an additional 380,392 shares in the last quarter. Artemis Investment Management LLP grew its position in Kornit Digital by 138.2% in the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock worth $19,867,000 after acquiring an additional 372,443 shares during the period. Finally, Riverbridge Partners LLC increased its position in shares of Kornit Digital by 21.1% during the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after purchasing an additional 335,713 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KRNT. Needham & Company LLC lowered their target price on Kornit Digital from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Kornit Digital Price Performance

Kornit Digital stock opened at $22.10 on Thursday. The firm’s 50 day simple moving average is $19.30 and its 200-day simple moving average is $25.86. The company has a market cap of $1.05 billion, a P/E ratio of -63.14 and a beta of 2.00. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, May 14th. The industrial products company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. On average, analysts expect that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.