Kornit Digital Ltd. (NASDAQ:KRNT) Position Cut by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lowered its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 32.6% in the 4th quarter, Holdings Channel reports. The fund owned 462,949 shares of the industrial products company’s stock after selling 224,391 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Kornit Digital were worth $14,328,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Barclays PLC boosted its stake in Kornit Digital by 130.1% during the 3rd quarter. Barclays PLC now owns 20,420 shares of the industrial products company’s stock valued at $527,000 after purchasing an additional 11,544 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Kornit Digital by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 23,779 shares of the industrial products company’s stock valued at $614,000 after buying an additional 1,284 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Kornit Digital by 421.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock worth $14,567,000 after buying an additional 380,392 shares during the period. Artemis Investment Management LLP boosted its position in shares of Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock worth $19,867,000 after buying an additional 372,443 shares during the period. Finally, Riverbridge Partners LLC grew its holdings in Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock worth $59,643,000 after buying an additional 335,713 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KRNT. Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Needham & Company LLC decreased their target price on shares of Kornit Digital from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Kornit Digital Stock Down 0.3%

Shares of Kornit Digital stock opened at $19.25 on Wednesday. The business has a fifty day simple moving average of $19.35 and a 200-day simple moving average of $25.91. The firm has a market cap of $915.38 million, a price-to-earnings ratio of -55.00 and a beta of 2.00. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Kornit Digital 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.