Kornitzer Capital Management Inc. KS Sells 67,955 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Kornitzer Capital Management Inc. KS decreased its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,205 shares of the industrial products company's stock after selling 67,955 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.78% of Kornit Digital worth $9,616,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KRNT. Headlands Technologies LLC boosted its holdings in Kornit Digital by 97.9% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company's stock worth $38,000 after buying an additional 1,027 shares during the period. nVerses Capital LLC purchased a new position in shares of Kornit Digital in the second quarter valued at about $40,000. Signaturefd LLC lifted its position in shares of Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 779 shares in the last quarter. Privium Fund Management B.V. bought a new position in shares of Kornit Digital in the second quarter worth about $159,000. Finally, Bank of New York Mellon Corp grew its position in shares of 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 in the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Price Performance

Shares of Kornit Digital stock traded up $0.05 during trading hours on Friday, reaching $30.47. The company's stock had a trading volume of 230,680 shares, compared to its average volume of 369,860. The firm has a 50 day moving average price of $23.62 and a 200-day moving average price of $18.46. The stock has a market cap of $1.45 billion, a P/E ratio of -29.53 and a beta of 1.93. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $31.19.

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, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The company's quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, sell-side analysts forecast that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on KRNT shares. Morgan Stanley upped their price target on Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. StockNews.com raised shares of Kornit Digital from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Barclays boosted 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. Needham & Company LLC raised their price objective on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Craig Hallum increased their price target on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.00.

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.