Oppenheimer Asset Management Inc. Acquires 12,770 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Oppenheimer Asset Management Inc. lifted its holdings in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 33.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,307 shares of the industrial products company's stock after purchasing an additional 12,770 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.11% of Kornit Digital worth $1,588,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp raised its position in shares of Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after purchasing an additional 393 shares during the period. Privium Fund Management B.V. raised its holdings in Kornit Digital by 8.8% during the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company's stock worth $305,000 after buying an additional 950 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Kornit Digital by 3.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company's stock worth $468,000 after buying an additional 625 shares during the period. Barclays PLC increased its position in shares of Kornit Digital by 130.1% in the third quarter. Barclays PLC now owns 20,420 shares of the industrial products company's stock worth $527,000 after acquiring an additional 11,544 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Kornit Digital by 6.0% during the fourth quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company's stock valued at $546,000 after acquiring an additional 1,000 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts recently issued reports on KRNT shares. Needham & Company LLC increased their price objective on Kornit Digital from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald raised shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Craig Hallum raised their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, Morgan Stanley upped their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.00.

Kornit Digital Stock Performance

Shares of Kornit Digital stock traded down $0.36 during midday trading on Friday, reaching $21.48. 400,995 shares of the company's stock traded hands, compared to its average volume of 304,491. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29. The company's 50 day simple moving average is $28.43 and its 200 day simple moving average is $27.02. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -61.37 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share 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%. As a group, equities research analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

About Kornit Digital

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.