Janus Henderson Group PLC Reduces Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Janus Henderson Group PLC reduced its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 740,069 shares of the industrial products company’s stock after selling 13,407 shares during the period. Janus Henderson Group PLC owned about 1.56% of Kornit Digital worth $22,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverbridge Partners LLC increased its stake in shares of Kornit Digital by 21.1% in 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 in the last quarter. Stephens Investment Management Group LLC increased its position in Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after buying an additional 57,068 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Kornit Digital by 259.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after buying an additional 893,463 shares during the period. Hood River Capital Management LLC lifted its position in shares of Kornit Digital by 47.2% during the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after buying an additional 352,648 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its stake in shares of Kornit Digital by 29.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 758,761 shares of the industrial products company’s stock valued at $23,484,000 after acquiring an additional 173,558 shares during the period. 92.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on KRNT. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Needham & Company LLC upped their target price on shares of Kornit Digital from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.20.

Kornit Digital Trading Up 1.3%

NASDAQ:KRNT opened at $22.39 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -63.97 and a beta of 2.00. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29. The stock has a fifty day simple moving average of $19.36 and a 200-day simple moving average of $25.82.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly 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). The company had revenue of $46.46 million during the quarter, compared to analysts’ expectations of $47.26 million. Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, equities research analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Kornit Digital Profile

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.