Arrowstreet Capital Limited Partnership Takes Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Arrowstreet Capital Limited Partnership bought a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 184,541 shares of the industrial products company's stock, valued at approximately $5,712,000. Arrowstreet Capital Limited Partnership owned 0.39% of Kornit Digital as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of KRNT. Fifth Third Bancorp lifted its stake in shares of Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 393 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after buying an additional 988 shares during the period. Pictet Asset Management Holding SA acquired a new stake in shares of Kornit Digital in the fourth quarter worth $203,000. HighTower Advisors LLC purchased a new position in shares of Kornit Digital in the 4th quarter valued at $237,000. Finally, US Bancorp DE lifted its holdings in shares of Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock valued at $257,000 after acquiring an additional 572 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Stock Performance

Shares of NASDAQ:KRNT traded up $0.79 during trading on Friday, hitting $18.71. The company's stock had a trading volume of 201,170 shares, compared to its average volume of 294,147. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The stock's 50-day moving average price is $22.64 and its two-hundred day moving average price is $26.78. The company has a market capitalization of $889.70 million, a PE ratio of -53.46 and a beta of 2.08.

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Kornit Digital (NASDAQ:KRNT - Get Free Report) last released 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 return on equity of 1.51% and a negative net margin of 8.24%. On average, equities analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on KRNT. Morgan Stanley raised their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC lowered their price objective 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.80.

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.