Kornit Digital Ltd. $KRNT is Inflection Point Investments LLP’s 2nd Largest Position

Inflection Point Investments LLP trimmed its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 26.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 358,858 shares of the industrial products company’s stock after selling 128,404 shares during the period. Kornit Digital comprises about 13.5% of Inflection Point Investments LLP’s portfolio, making the stock its 2nd largest holding. Inflection Point Investments LLP’s holdings in Kornit Digital were worth $7,145,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Capital LLC boosted its holdings in Kornit Digital by 0.3% during the 1st quarter. Chicago Capital LLC now owns 3,105,206 shares of the industrial products company’s stock valued at $59,247,000 after acquiring an additional 10,656 shares during the period. Granahan Investment Management LLC boosted its holdings in Kornit Digital by 6.2% during the 1st quarter. Granahan Investment Management LLC now owns 1,693,833 shares of the industrial products company’s stock valued at $32,318,000 after acquiring an additional 98,284 shares during the period. Stephens Investment Management Group LLC boosted its stake in shares of Kornit Digital by 0.8% during the first quarter. Stephens Investment Management Group LLC now owns 1,353,412 shares of the industrial products company’s stock valued at $25,823,000 after purchasing an additional 11,091 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Kornit Digital by 5.0% during the first quarter. Artemis Investment Management LLP now owns 673,832 shares of the industrial products company’s stock valued at $12,857,000 after purchasing an additional 31,924 shares during the period. Finally, Dudley & Shanley Inc. boosted its stake in shares of Kornit Digital by 98.4% during the second quarter. Dudley & Shanley Inc. now owns 637,300 shares of the industrial products company’s stock valued at $12,689,000 after purchasing an additional 316,150 shares during the period. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Kornit Digital Stock Up 4.0%

Shares of KRNT stock opened at $14.08 on Tuesday. The stock has a fifty day moving average of $14.69 and a 200 day moving average of $18.14. Kornit Digital Ltd. has a 52 week low of $12.78 and a 52 week high of $34.28. The firm has a market capitalization of $630.64 million, a price-to-earnings ratio of -56.32 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The company had revenue of $49.75 million during the quarter, compared to analyst estimates of $52.07 million. During the same quarter last year, the firm posted $0.02 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Kornit Digital in a research note on Wednesday, October 8th. Barclays set a $22.00 price target on shares of Kornit Digital and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC dropped their price target on shares of Kornit Digital from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.40.

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.