Meitav Investment House Ltd. lowered its stake in Kornit Digital Ltd. (NASDAQ:KRNT – Free Report) by 94.0% during the first quarter, HoldingsChannel.com reports. The firm owned 53,000 shares of the industrial products company’s stock after selling 824,015 shares during the period. Meitav Investment House Ltd.’s holdings in Kornit Digital were worth $770,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Senvest Management LLC grew its stake in shares of Kornit Digital by 4.1% during the fourth quarter. Senvest Management LLC now owns 4,141,355 shares of the industrial products company’s stock worth $59,553,000 after purchasing an additional 162,100 shares during the period. Morgan Stanley boosted its holdings in Kornit Digital by 26.5% during the fourth quarter. Morgan Stanley now owns 3,998,548 shares of the industrial products company’s stock worth $57,499,000 after buying an additional 838,814 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Kornit Digital by 32.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,647,804 shares of the industrial products company’s stock worth $38,075,000 after buying an additional 650,283 shares during the period. Granahan Investment Management LLC increased its stake in shares of Kornit Digital by 31.4% in the 4th quarter. Granahan Investment Management LLC now owns 2,569,663 shares of the industrial products company’s stock valued at $36,952,000 after acquiring an additional 614,513 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of Kornit Digital by 61.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,565,079 shares of the industrial products company’s stock valued at $22,506,000 after acquiring an additional 597,128 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on KRNT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Kornit Digital in a research note on Wednesday, March 25th. Wall Street Zen raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Morgan Stanley upped their price target on Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, Needham & Company LLC lifted their target price on Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.00.
Kornit Digital Trading Down 0.1%
Shares of KRNT opened at $15.49 on Wednesday. The company has a market cap of $693.80 million, a price-to-earnings ratio of -39.72 and a beta of 1.73. Kornit Digital Ltd. has a 1-year low of $11.93 and a 1-year high of $22.06. The company’s fifty day simple moving average is $15.80 and its 200 day simple moving average is $15.17.
Kornit Digital (NASDAQ:KRNT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The firm had revenue of $48.54 million during the quarter, compared to analysts’ expectations of $46.67 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.
Kornit Digital Profile
Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.
The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.
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