Kornit Digital Ltd. (NASDAQ:KRNT) Shares Bought by Dudley & Shanley Inc.

Dudley & Shanley Inc. lifted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 25.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 259,525 shares of the industrial products company's stock after purchasing an additional 52,425 shares during the period. Kornit Digital comprises about 1.0% of Dudley & Shanley Inc.'s investment portfolio, making the stock its 25th biggest holding. Dudley & Shanley Inc. owned about 0.55% of Kornit Digital worth $6,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in 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 purchasing an additional 1,184 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in shares of Kornit Digital by 21.0% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 243,814 shares of the industrial products company's stock valued at $3,569,000 after buying an additional 42,383 shares during the period. Signaturefd LLC grew its position in shares of 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 during the last quarter. nVerses Capital LLC acquired a new stake in Kornit Digital during the second quarter worth about $40,000. Finally, Privium Fund Management B.V. bought a new position in Kornit Digital in the second quarter worth about $159,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KRNT has been the subject of several recent research reports. Morgan Stanley upped their target price on Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Cantor Fitzgerald initiated 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. Craig Hallum raised their target price on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Needham & Company LLC upped their price target on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Barclays increased their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.40.

Kornit Digital Stock Performance

Shares of NASDAQ:KRNT traded down $0.65 on Monday, hitting $31.95. The company's stock had a trading volume of 298,860 shares, compared to its average volume of 361,167. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -36.31 and a beta of 2.01. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.28. The stock's 50-day moving average is $29.20 and its two-hundred day moving average is $22.23.

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

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.