Next Century Growth Investors LLC Buys 140,723 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Next Century Growth Investors LLC grew its position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 86.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 303,497 shares of the industrial products company's stock after buying an additional 140,723 shares during the period. Next Century Growth Investors LLC owned approximately 0.64% of Kornit Digital worth $9,393,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KRNT. Fifth Third Bancorp grew its stake in Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 393 shares during the period. US Bancorp DE lifted its holdings in shares of Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock valued at $257,000 after purchasing an additional 572 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Kornit Digital by 3.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company's stock valued at $468,000 after purchasing an additional 625 shares during the period. American Century Companies Inc. increased its stake in Kornit Digital by 8.5% during the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock worth $344,000 after purchasing an additional 874 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Kornit Digital by 35.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after buying an additional 988 shares during the period. Institutional investors own 92.76% of the company's stock.

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Analysts Set New Price Targets

KRNT has been the subject of several research analyst reports. Needham & Company LLC reduced their price target on shares of Kornit Digital from $34.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley upped their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Finally, Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.80.

Kornit Digital Stock Up 3.2 %

KRNT traded up $0.60 during trading hours on Tuesday, hitting $19.31. 211,297 shares of the company's stock were exchanged, compared to its average volume of 294,016. The stock has a market cap of $918.23 million, a price-to-earnings ratio of -55.17 and a beta of 2.08. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.29. The stock's 50-day moving average is $22.43 and its two-hundred day moving average is $26.74.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. On average, equities research analysts anticipate that Kornit Digital Ltd. will post -0.2 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.