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.
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
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.
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