Taylor Frigon Capital Management LLC cut its position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 220,383 shares of the industrial products company's stock after selling 23,431 shares during the quarter. Kornit Digital makes up about 2.9% of Taylor Frigon Capital Management LLC's holdings, making the stock its 2nd biggest position. Taylor Frigon Capital Management LLC owned about 0.46% of Kornit Digital worth $5,725,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC increased its stake in shares of Kornit Digital by 97.9% in the first quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company's stock worth $38,000 after purchasing an additional 1,027 shares during the period. nVerses Capital LLC bought a new position in Kornit Digital in the 2nd quarter worth approximately $40,000. Signaturefd LLC lifted its holdings in shares of Kornit Digital by 29.4% during the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock worth $50,000 after buying an additional 779 shares during the last quarter. Privium Fund Management B.V. bought a new stake in shares of Kornit Digital in the second quarter valued at approximately $159,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Kornit Digital by 8.0% in 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 acquiring an additional 1,184 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.
Wall Street Analyst Weigh In
KRNT has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $27.00 target price on shares of Kornit Digital in a research note on Thursday, September 12th. Barclays lifted their target price 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 Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Craig Hallum lifted their price objective on Kornit Digital from $23.00 to $27.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Morgan Stanley upped their target price on Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a research note 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.
Get Our Latest Research Report on Kornit Digital
Kornit Digital Stock Down 0.5 %
KRNT traded down $0.11 during midday trading on Thursday, reaching $23.52. 120,917 shares of the company's stock were exchanged, compared to its average volume of 370,843. The business has a 50-day simple moving average of $22.39 and a two-hundred day simple moving average of $17.80. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -19.05 and a beta of 1.92. 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 results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The business had revenue of $48.62 million for the quarter, compared to analyst estimates of $50.24 million. During the same quarter in the previous year, the firm earned ($0.28) EPS. Kornit Digital's quarterly revenue was down 13.5% on a year-over-year basis. As a group, research analysts anticipate that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.
Kornit Digital Profile
(
Free Report)
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.
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