Loomis Sayles & Co. L P Makes New Investment in Kornit Digital Ltd. (NASDAQ:KRNT)

Loomis Sayles & Co. L P acquired a new position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 343,990 shares of the industrial products company's stock, valued at approximately $8,887,000. Loomis Sayles & Co. L P owned 0.72% of Kornit Digital at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Kennedy Capital Management LLC boosted its holdings in shares of Kornit Digital by 26.6% during the 1st quarter. Kennedy Capital Management LLC now owns 95,581 shares of the industrial products company's stock valued at $1,732,000 after buying an additional 20,067 shares in the last quarter. California State Teachers Retirement System grew its holdings in Kornit Digital by 9.9% in the first quarter. California State Teachers Retirement System now owns 55,682 shares of the industrial products company's stock worth $1,009,000 after purchasing an additional 5,005 shares during the period. Tidal Investments LLC bought a new position in shares of Kornit Digital during the first quarter valued at approximately $664,000. Moody National Bank Trust Division lifted its holdings in shares of Kornit Digital by 19.6% during the second quarter. Moody National Bank Trust Division now owns 51,386 shares of the industrial products company's stock valued at $752,000 after purchasing an additional 8,405 shares during the last quarter. Finally, Thompson Investment Management Inc. boosted its position in shares of Kornit Digital by 11.9% in the 2nd quarter. Thompson Investment Management Inc. now owns 585,332 shares of the industrial products company's stock worth $8,569,000 after purchasing an additional 62,045 shares in the last quarter. 92.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KRNT. Cantor Fitzgerald began coverage on Kornit Digital in a research note on Tuesday. They set an "overweight" rating and a $39.00 price objective for the company. Barclays lifted their price target on Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 1st. StockNews.com raised shares of Kornit Digital from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Craig Hallum lifted their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Morgan Stanley increased their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, September 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Kornit Digital Stock Performance

Shares of KRNT traded down $0.70 during mid-day trading on Thursday, hitting $31.36. 306,378 shares of the company traded hands, compared to its average volume of 368,220. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -35.64 and a beta of 1.93. The stock has a 50-day moving average price of $26.66 and a two-hundred day moving average price of $20.02. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $33.00.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The company's quarterly revenue was down 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. On average, analysts forecast 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.