Principal Financial Group Inc. Acquires Shares of 36,168 Kornit Digital Ltd. (NASDAQ:KRNT)

Principal Financial Group Inc. bought a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 36,168 shares of the industrial products company's stock, valued at approximately $934,000. Principal Financial Group Inc. owned 0.08% of Kornit Digital as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kennedy Capital Management LLC grew its stake in shares of Kornit Digital by 26.6% during the first quarter. Kennedy Capital Management LLC now owns 95,581 shares of the industrial products company's stock worth $1,732,000 after purchasing an additional 20,067 shares during the period. California State Teachers Retirement System grew its stake in shares of Kornit Digital by 9.9% during the first quarter. California State Teachers Retirement System now owns 55,682 shares of the industrial products company's stock worth $1,009,000 after purchasing an additional 5,005 shares during the period. Tidal Investments LLC acquired a new stake in shares of Kornit Digital during the first quarter worth $664,000. Moody National Bank Trust Division grew its stake in shares of Kornit Digital by 19.6% during the second quarter. Moody National Bank Trust Division now owns 51,386 shares of the industrial products company's stock worth $752,000 after purchasing an additional 8,405 shares during the period. Finally, Thompson Investment Management Inc. grew its stake 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. 92.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KRNT. Needham & Company LLC boosted their target price on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley boosted 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. Craig Hallum boosted their target price on Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays boosted their target price on Kornit Digital from $21.00 to $26.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Finally, StockNews.com raised Kornit Digital from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

Kornit Digital Trading Up 0.1 %

Shares of KRNT stock traded up $0.02 on Friday, hitting $31.34. 247,143 shares of the stock were exchanged, compared to its average volume of 350,325. The firm has a market capitalization of $1.49 billion, a P/E ratio of -35.61 and a beta of 1.93. The business has a 50-day moving average of $26.16 and a 200 day moving average of $19.67. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $33.00.

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