ExodusPoint Capital Management LP Makes New $942,000 Investment in Kornit Digital Ltd. (NASDAQ:KRNT)

ExodusPoint Capital Management LP bought a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,446 shares of the industrial products company's stock, valued at approximately $942,000. ExodusPoint Capital Management LP owned approximately 0.06% of Kornit Digital at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Riverbridge Partners LLC raised its holdings in shares of Kornit Digital by 21.1% during the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company's stock worth $59,643,000 after acquiring an additional 335,713 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company's stock valued at $41,545,000 after acquiring an additional 57,068 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of Kornit Digital by 259.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock worth $38,300,000 after purchasing an additional 893,463 shares during the last quarter. Artemis Investment Management LLP lifted its position in Kornit Digital by 138.2% during the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company's stock worth $19,867,000 after buying an additional 372,443 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Kornit Digital by 421.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company's stock valued at $14,567,000 after acquiring an additional 380,392 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

KRNT has been the topic of a number of recent research reports. Needham & Company LLC lowered their price objective on shares of Kornit Digital from $34.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Kornit Digital currently has a consensus rating of "Moderate Buy" and an average price target of $32.80.

Kornit Digital Trading Down 1.7 %

Shares of NASDAQ:KRNT traded down $0.32 on Wednesday, reaching $18.99. 77,415 shares of the company traded hands, compared to its average volume of 293,283. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29. The business's 50-day simple moving average is $22.22 and its 200 day simple moving average is $26.69. The stock has a market capitalization of $903.06 million, a P/E ratio of -54.20 and a beta of 2.08.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts expect that Kornit Digital Ltd. will post -0.2 EPS 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.