Chicago Capital LLC Purchases 231,659 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Chicago Capital LLC boosted its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,089,263 shares of the industrial products company's stock after acquiring an additional 231,659 shares during the period. Kornit Digital accounts for 2.2% of Chicago Capital LLC's investment portfolio, making the stock its 13th largest holding. Chicago Capital LLC owned about 6.47% of Kornit Digital worth $79,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. grew its stake in Kornit Digital by 13.6% in the first quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company's stock valued at $9,482,000 after acquiring an additional 62,607 shares during the period. Wasatch Advisors LP lifted its stake in Kornit Digital by 6.7% during the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company's stock valued at $32,803,000 after acquiring an additional 114,372 shares in the last quarter. Dudley & Shanley Inc. boosted its holdings in Kornit Digital by 47.2% during the 1st quarter. Dudley & Shanley Inc. now owns 153,400 shares of the industrial products company's stock worth $2,780,000 after acquiring an additional 49,180 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in shares of Kornit Digital by 47.3% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 201,431 shares of the industrial products company's stock worth $3,650,000 after acquiring an additional 64,718 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Kornit Digital by 13.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 39,515 shares of the industrial products company's stock valued at $716,000 after purchasing an additional 4,725 shares during the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Performance

KRNT traded down $0.17 on Friday, hitting $24.51. 100,899 shares of the company were exchanged, compared to its average volume of 376,020. The firm has a fifty day simple moving average of $21.95 and a two-hundred day simple moving average of $17.66. The stock has a market capitalization of $1.17 billion, a PE ratio of -20.09 and a beta of 1.92. Kornit Digital Ltd. has a 12 month low of $13.29 and a 12 month high of $26.64.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. The company had revenue of $48.62 million during the quarter, compared to analyst estimates of $50.24 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. Kornit Digital's revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, equities analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.