Pathstone Holdings LLC Has $22.04 Million Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Pathstone Holdings LLC cut its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 853,165 shares of the industrial products company's stock after selling 111,981 shares during the period. Pathstone Holdings LLC owned approximately 1.79% of Kornit Digital worth $22,042,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Kornit Digital during the second quarter valued at $40,000. Signaturefd LLC raised its holdings in Kornit Digital by 29.4% during the 2nd 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 period. Privium Fund Management B.V. acquired a new position in Kornit Digital in the 2nd quarter worth $159,000. Bank of New York Mellon Corp grew its holdings in shares of Kornit Digital by 8.0% during 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 buying an additional 1,184 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Kornit Digital by 26.2% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock worth $256,000 after purchasing an additional 3,633 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Price Performance

KRNT stock traded up $0.13 during midday trading on Wednesday, reaching $31.14. The company had a trading volume of 265,114 shares, compared to its average volume of 369,266. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -35.24 and a beta of 1.93. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $33.00. The stock has a 50 day moving average price of $25.65 and a 200-day moving average price of $19.38.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. During the same quarter last year, the business posted ($0.17) EPS. The firm's revenue for the quarter was down 14.3% on a year-over-year basis. As a group, research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KRNT has been the topic of several research analyst reports. Craig Hallum upped their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley upped their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, September 13th. Barclays raised their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 1st. Needham & Company LLC upped their target price on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, StockNews.com raised Kornit Digital from a "sell" rating to a "hold" rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

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.