LHM Inc. Boosts Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

LHM Inc. grew its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 453,964 shares of the industrial products company's stock after acquiring an additional 49,755 shares during the period. Kornit Digital accounts for 4.5% of LHM Inc.'s investment portfolio, making the stock its 4th biggest holding. LHM Inc. owned 0.95% of Kornit Digital worth $14,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. bought a new stake in Kornit Digital in the third quarter worth $934,000. Privium Fund Management B.V. boosted its holdings in Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company's stock worth $305,000 after purchasing an additional 950 shares in the last quarter. Lisanti Capital Growth LLC bought a new stake in Kornit Digital in the third quarter worth $2,523,000. Telemark Asset Management LLC bought a new stake in Kornit Digital in the third quarter worth $1,033,000. Finally, Loomis Sayles & Co. L P bought a new stake in Kornit Digital in the third quarter worth $8,887,000. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KRNT has been the subject of a number of recent research reports. Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Needham & Company LLC boosted their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

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Kornit Digital Stock Performance

Shares of KRNT traded down $0.36 during trading hours on Friday, reaching $21.48. 401,795 shares of the company traded hands, compared to its average volume of 302,960. The stock's fifty day moving average is $28.23 and its 200 day moving average is $27.12. The stock has a market cap of $1.02 billion, a P/E ratio of -61.37 and a beta of 2.12. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.29.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.24% and a negative return on equity of 1.51%. On average, equities research analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current year.

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.