36,168 Shares in Kornit Digital Ltd. (NASDAQ:KRNT) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 36,168 shares of the industrial products company's stock, valued at approximately $934,000. Principal Financial Group Inc. owned about 0.08% of Kornit Digital as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its holdings in Kornit Digital by 69.7% during the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company's stock valued at $150,000 after buying an additional 2,390 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock valued at $235,000 after buying an additional 1,184 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Kornit Digital by 26.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock worth $256,000 after buying an additional 3,633 shares in the last quarter. Privium Fund Management B.V. grew its holdings in Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company's stock valued at $305,000 after purchasing an additional 950 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Kornit Digital by 22.7% during the 2nd quarter. XTX Topco Ltd now owns 20,953 shares of the industrial products company's stock worth $307,000 after purchasing an additional 3,881 shares during the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Down 0.1 %

KRNT traded down $0.02 during trading on Friday, hitting $30.73. The company's stock had a trading volume of 137,800 shares, compared to its average volume of 140,850. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.28. The firm's 50 day moving average price is $30.48 and its two-hundred day moving average price is $23.21. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -34.92 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The company had revenue of $50.73 million during the quarter, compared to analysts' expectations of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, sell-side analysts forecast that Kornit Digital Ltd. will post -0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Cantor Fitzgerald began coverage on Kornit Digital in a research report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price objective for the company. Barclays lifted their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 1st. Craig Hallum boosted their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC increased their price target on Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Morgan Stanley raised their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.40.

About Kornit Digital

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.