ArrowMark Colorado Holdings LLC Boosts Position in Kornit Digital Ltd. (NASDAQ:KRNT)

ArrowMark Colorado Holdings LLC boosted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 373,000 shares of the industrial products company's stock after acquiring an additional 24,000 shares during the period. ArrowMark Colorado Holdings LLC owned 0.78% of Kornit Digital worth $9,636,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Kornit Digital during the second quarter valued at approximately $40,000. Signaturefd LLC lifted its holdings in Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock valued at $50,000 after buying an additional 779 shares in the last quarter. Privium Fund Management B.V. purchased a new stake in Kornit Digital in the 2nd quarter valued at about $159,000. Bank of New York Mellon Corp increased its position in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock worth $235,000 after acquiring an additional 1,184 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of 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 valued at $256,000 after acquiring an additional 3,633 shares in the last quarter. 92.76% of the stock is owned by institutional investors.

Kornit Digital Stock Performance

NASDAQ:KRNT traded down $0.04 during mid-day trading on Tuesday, hitting $31.60. 62,479 shares of the company's stock traded hands, compared to its average volume of 364,660. The company has a fifty day moving average of $27.11 and a 200 day moving average of $20.39. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $33.00. The company has a market capitalization of $1.50 billion, a P/E ratio of -35.95 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. The firm had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. Kornit Digital's revenue was down 14.3% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. On average, research analysts expect that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, September 13th. Finally, Cantor Fitzgerald assumed coverage on Kornit Digital in a research note on Tuesday, November 26th. They set an "overweight" rating and a $39.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Kornit Digital currently has an average rating of "Moderate Buy" and an average price target of $31.00.

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.