Kornit Digital (NASDAQ:KRNT) Stock: Insider Yaaqov Mann Sells 57,108 Shares

Kornit Digital Ltd. (NASDAQ:KRNT – Get Free Report) CTO Yaaqov Mann sold 57,108 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $17.27, for a total value of $986,255.16. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yaaqov Mann also recently made the following trade(s):

  • On Monday, October 5th, Yaaqov Mann sold 39,958 shares of Kornit Digital stock. The shares were sold at an average price of $17.66, for a total transaction of $705,658.28.

Kornit Digital Trading Down 0.4%

KRNT traded down $0.08 during trading hours on Tuesday, hitting $18.15. The company’s stock had a trading volume of 376,510 shares, compared to its average volume of 309,664. The stock has a market cap of $779.85 million, a price-to-earnings ratio of -37.81 and a beta of 1.85. The business’s 50-day moving average price is $16.35 and its 200-day moving average price is $15.85. Kornit Digital Ltd. has a 12 month low of $11.93 and a 12 month high of $19.78.

Kornit Digital (NASDAQ:KRNT – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The business had revenue of $55.32 million during the quarter, compared to analyst estimates of $52.80 million. During the same quarter last year, the business earned $0.03 earnings per share. Kornit Digital’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Kornit Digital Ltd. will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KRNT has been the topic of several analyst reports. Morgan Stanley boosted their price objective on Kornit Digital from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Needham & Company LLC lifted their target price on Kornit Digital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings upgraded Kornit Digital from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Finally, Zacks Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kornit Digital has a consensus rating of “Hold” and a consensus target price of $21.50.

View Our Latest Research Report on KRNT

Institutional Investors Weigh In On Kornit Digital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Granahan Investment Management LLC boosted its holdings in Kornit Digital by 31.4% during 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 period. Invenomic Capital Management LP lifted its position in shares of Kornit Digital by 196.9% during the fourth quarter. Invenomic Capital Management LP now owns 1,397,950 shares of the industrial products company’s stock worth $20,103,000 after purchasing an additional 927,169 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Kornit Digital by 185.2% during the first quarter. Assenagon Asset Management S.A. now owns 1,292,586 shares of the industrial products company’s stock valued at $18,949,000 after purchasing an additional 839,336 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Kornit Digital by 13.7% in the first quarter. Janus Henderson Group PLC now owns 793,194 shares of the industrial products company’s stock worth $11,628,000 after purchasing an additional 95,693 shares during the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Kornit Digital by 145.9% in the second quarter. Wasatch Advisors LP now owns 433,968 shares of the industrial products company’s stock worth $7,052,000 after purchasing an additional 257,478 shares during the last quarter. 92.76% of the stock is owned by institutional investors.

Kornit Digital Company Profile

(Get Free Report)

Kornit Digital Ltd. (NASDAQ: KRNT) develops and manufactures digital printing systems, inks, software and related solutions for the textile, apparel and other printed-product markets. Its technologies are designed to enable on-demand, short-run and customized production, helping manufacturers and brands reduce reliance on traditional screen-printing and other analog processes.

The company’s product portfolio includes direct-to-garment, direct-to-fabric and digital decoration systems, as well as proprietary inks, workflow software and technical services.

Further Reading

Receive News & Ratings for Kornit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital and related companies with MarketBeat.com's FREE daily email newsletter.