abrdn plc Sells 10,928 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

abrdn plc decreased its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,363 shares of the industrial products company’s stock after selling 10,928 shares during the period. abrdn plc owned 0.13% of Kornit Digital worth $1,291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Kornit Digital by 103.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 953,682 shares of the industrial products company’s stock worth $18,273,000 after purchasing an additional 485,000 shares in the last quarter. Phoenix Holdings Ltd. lifted its holdings in Kornit Digital by 233.4% during the 3rd quarter. Phoenix Holdings Ltd. now owns 178,825 shares of the industrial products company’s stock worth $3,381,000 after buying an additional 125,196 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Kornit Digital by 106.3% in the 3rd quarter. Schroder Investment Management Group now owns 735,688 shares of the industrial products company’s stock valued at $13,912,000 after buying an additional 379,140 shares during the period. Chicago Capital LLC raised its position in shares of Kornit Digital by 14.6% during the third quarter. Chicago Capital LLC now owns 1,660,074 shares of the industrial products company’s stock worth $31,392,000 after acquiring an additional 212,102 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of Kornit Digital during the third quarter valued at $2,816,000. Institutional investors own 92.76% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a report on Saturday.

Kornit Digital Stock Performance

Shares of KRNT stock opened at $15.80 on Tuesday. The firm’s 50 day moving average price is $17.25 and its two-hundred day moving average price is $17.29. The stock has a market cap of $754.29 million, a PE ratio of -11.97 and a beta of 1.89. Kornit Digital Ltd. has a 52-week low of $13.29 and a 52-week high of $31.94.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $56.59 million for the quarter, compared to analyst estimates of $57.35 million. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. As a group, sell-side analysts predict that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

Kornit Digital Company 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.