William Blair Investment Management LLC decreased its position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 70.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 383,252 shares of the industrial products company's stock after selling 932,065 shares during the quarter. William Blair Investment Management LLC owned 0.81% of Kornit Digital worth $11,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. bought a new stake in Kornit Digital in the third quarter worth $934,000. Lisanti Capital Growth LLC increased its holdings in shares of Kornit Digital by 119.0% in the 4th quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company's stock worth $6,618,000 after buying an additional 116,170 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Kornit Digital during the 3rd quarter valued at about $8,887,000. Stephens Investment Management Group LLC lifted its holdings in shares of Kornit Digital by 4.4% in the 4th 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 last quarter. Finally, Dudley & Shanley Inc. grew its position in Kornit Digital by 25.3% in the third quarter. Dudley & Shanley Inc. now owns 259,525 shares of the industrial products company's stock worth $6,705,000 after acquiring an additional 52,425 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on KRNT shares. 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 note on Monday, December 16th. Needham & Company LLC raised their price target on Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.
Check Out Our Latest Stock Analysis on Kornit Digital
Kornit Digital Stock Performance
Kornit Digital stock traded up $0.47 during mid-day trading on Monday, hitting $22.29. The company's stock had a trading volume of 251,298 shares, compared to its average volume of 297,231. The company has a 50 day moving average of $26.41 and a 200-day moving average of $27.31. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $34.29. The stock has a market cap of $1.06 billion, a PE ratio of -63.69 and a beta of 2.12.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS 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 research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.
About Kornit Digital
(
Free Report)
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.
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