Stephens Investment Management Group LLC Has $33.21 Million Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Stephens Investment Management Group LLC decreased its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,285,253 shares of the industrial products company's stock after selling 73,275 shares during the quarter. Stephens Investment Management Group LLC owned 2.69% of Kornit Digital worth $33,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in KRNT. Chicago Capital LLC raised its position in shares of Kornit Digital by 8.1% during the third quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company's stock worth $79,811,000 after purchasing an additional 231,659 shares during the period. Disciplined Growth Investors Inc. MN raised its position in shares of Kornit Digital by 5.7% during the second 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. William Blair Investment Management LLC raised its position in shares of Kornit Digital by 6.0% during the second quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company's stock worth $14,462,000 after purchasing an additional 56,157 shares during the period. LHM Inc. acquired a new stake in shares of Kornit Digital during the second quarter worth about $12,042,000. Finally, Thompson Investment Management Inc. raised its position in shares of Kornit Digital by 11.9% during the second 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 during the period. Institutional investors and hedge funds own 92.76% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on KRNT. StockNews.com raised Kornit Digital from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Barclays lifted their target price 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. Craig Hallum lifted their target price on Kornit Digital from $23.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Needham & Company LLC reissued a "buy" rating and issued a $27.00 target price on shares of Kornit Digital in a research report on Thursday, September 12th. Finally, Morgan Stanley lifted their target price on Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Kornit Digital Price Performance

KRNT stock traded up $0.14 during mid-day trading on Friday, reaching $23.03. The company had a trading volume of 319,448 shares, compared to its average volume of 368,360. The stock has a 50 day simple moving average of $22.95 and a two-hundred day simple moving average of $18.10. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -22.22 and a beta of 1.92. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $26.64.

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

Kornit Digital 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.