Kornit Digital Ltd. (NASDAQ:KRNT) Shares Bought by Barclays PLC

Barclays PLC grew its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 130.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,420 shares of the industrial products company's stock after purchasing an additional 11,544 shares during the quarter. Barclays PLC's holdings in Kornit Digital were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tectonic Advisors LLC acquired a new position in shares of Kornit Digital in the third quarter worth about $705,000. Loomis Sayles & Co. L P acquired a new position in shares of Kornit Digital in the third quarter worth about $8,887,000. Principal Financial Group Inc. bought a new stake in Kornit Digital in the third quarter valued at about $934,000. Telemark Asset Management LLC bought a new stake in Kornit Digital in the third quarter valued at about $1,033,000. Finally, Meros Investment Management LP increased its holdings in Kornit Digital by 19.2% in the third quarter. Meros Investment Management LP now owns 276,040 shares of the industrial products company's stock valued at $7,131,000 after buying an additional 44,456 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Wall Street Analysts Forecast Growth

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

Kornit Digital Price Performance

Shares of NASDAQ KRNT traded down $0.12 during midday trading on Friday, hitting $29.70. 209,602 shares of the company's stock were exchanged, compared to its average volume of 192,915. The stock's 50 day moving average price is $31.34 and its 200-day moving average price is $24.22. The firm has a market cap of $1.41 billion, a P/E ratio of -33.75 and a beta of 2.01. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.28.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The business's revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, analysts expect that Kornit Digital Ltd. will post -0.22 EPS for the current fiscal year.

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.