Granahan Investment Management LLC lifted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT – Free Report) by 31.4% during the fourth quarter, HoldingsChannel reports. The fund owned 2,569,663 shares of the industrial products company’s stock after acquiring an additional 614,513 shares during the quarter. Kornit Digital comprises 1.6% of Granahan Investment Management LLC’s holdings, making the stock its 19th biggest position. Granahan Investment Management LLC owned about 0.06% of Kornit Digital worth $36,952,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Senvest Management LLC boosted its holdings in 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 buying an additional 162,100 shares in the last quarter. 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 in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Kornit Digital by 32.6% during the fourth 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 in the last quarter. Baillie Gifford & Co. boosted its holdings in Kornit Digital by 61.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,565,079 shares of the industrial products company’s stock worth $22,506,000 after buying an additional 597,128 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Kornit Digital by 6.2% during the fourth quarter. Schroder Investment Management Group now owns 1,148,895 shares of the industrial products company’s stock worth $16,464,000 after buying an additional 66,658 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.
Kornit Digital Stock Down 0.3%
Kornit Digital stock opened at $15.97 on Wednesday. Kornit Digital Ltd. has a 52-week low of $11.93 and a 52-week high of $22.06. The firm has a fifty day moving average of $15.72 and a 200-day moving average of $14.92. The firm has a market capitalization of $715.38 million, a P/E ratio of -40.95 and a beta of 1.76.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Wall Street Zen raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kornit Digital in a report on Wednesday, March 25th. Finally, Needham & Company LLC upped their price target on shares of Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kornit Digital presently has a consensus rating of “Hold” and a consensus price target of $20.75.
View Our Latest Analysis on KRNT
Kornit Digital Company 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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