Disciplined Growth Investors Inc. MN Buys 53,257 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Disciplined Growth Investors Inc. MN lifted its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,113,832 shares of the industrial products company's stock after purchasing an additional 53,257 shares during the quarter. Disciplined Growth Investors Inc. MN owned approximately 4.45% of Kornit Digital worth $54,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of Kornit Digital by 130.1% in the 3rd quarter. Barclays PLC now owns 20,420 shares of the industrial products company's stock valued at $527,000 after acquiring an additional 11,544 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Kornit Digital during the 3rd quarter worth $3,590,000. XTX Topco Ltd grew its stake in Kornit Digital by 50.5% in the 3rd quarter. XTX Topco Ltd now owns 31,532 shares of the industrial products company's stock valued at $815,000 after buying an additional 10,579 shares during the last quarter. Polar Asset Management Partners Inc. raised its holdings in Kornit Digital by 35.7% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company's stock worth $16,045,000 after acquiring an additional 163,543 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Kornit Digital by 6.9% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 373,000 shares of the industrial products company's stock worth $9,636,000 after acquiring an additional 24,000 shares during the period. Institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Performance

Shares of NASDAQ KRNT traded down $0.35 during midday trading on Tuesday, reaching $31.61. 116,145 shares of the company traded hands, compared to its average volume of 363,403. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $33.31. The firm has a market cap of $1.50 billion, a PE ratio of -36.31 and a beta of 2.01. The stock's 50-day simple moving average is $27.73 and its 200-day simple moving average is $20.98.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Needham & Company LLC raised their price target on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price target on the stock. Craig Hallum raised their price objective on Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley upped their target price on Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, September 13th. Finally, Barclays lifted their price target on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.00.

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.