Artemis Investment Management LLP Acquires New Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Artemis Investment Management LLP acquired a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 269,465 shares of the industrial products company's stock, valued at approximately $6,962,000. Artemis Investment Management LLP owned approximately 0.56% of Kornit Digital as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Kornit Digital by 5.3% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 148,206 shares of the industrial products company's stock valued at $3,829,000 after buying an additional 7,500 shares during the period. LHM Inc. acquired a new position in Kornit Digital in the 2nd quarter valued at $5,500,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of Kornit Digital by 26.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock worth $256,000 after purchasing an additional 3,633 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Kornit Digital by 5.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company's stock worth $30,167,000 after purchasing an additional 111,971 shares during the period. Finally, Meros Investment Management LP boosted its holdings in shares of Kornit Digital by 39.3% during the second quarter. Meros Investment Management LP now owns 231,584 shares of the industrial products company's stock worth $3,390,000 after purchasing an additional 65,302 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KRNT has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Barclays boosted their price target on Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 1st. StockNews.com upgraded Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Craig Hallum boosted their target price on Kornit Digital from $23.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Needham & Company LLC restated a "buy" rating and issued a $27.00 price target on shares of Kornit Digital in a report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT traded up $0.68 during midday trading on Thursday, reaching $24.48. The company had a trading volume of 553,359 shares, compared to its average volume of 381,085. The stock has a market capitalization of $1.17 billion, a P/E ratio of -19.51 and a beta of 1.92. The stock's fifty day moving average price is $20.72 and its 200-day moving average price is $17.33. Kornit Digital Ltd. has a one year low of $13.29 and a one year high of $26.64.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $48.62 million for the quarter, compared to analysts' expectations of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. Kornit Digital's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. As a group, sell-side analysts forecast that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.

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.