Riverbridge Partners LLC Purchases 335,713 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Riverbridge Partners LLC lifted its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,927,091 shares of the industrial products company's stock after buying an additional 335,713 shares during the period. Riverbridge Partners LLC owned about 4.05% of Kornit Digital worth $59,643,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Kornit Digital by 69.7% during the third quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company's stock valued at $150,000 after acquiring an additional 2,390 shares during the period. Bank of New York Mellon Corp boosted its position in Kornit Digital by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock valued at $235,000 after buying an additional 1,184 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Kornit Digital by 26.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock worth $256,000 after buying an additional 3,633 shares during the last quarter. Privium Fund Management B.V. increased its holdings in shares of Kornit Digital by 8.8% during the third 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 in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Kornit Digital by 22.7% in the second quarter. XTX Topco Ltd now owns 20,953 shares of the industrial products company's stock valued at $307,000 after acquiring an additional 3,881 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Stock Performance

Kornit Digital stock traded down $0.18 during trading hours on Thursday, reaching $30.25. 31,665 shares of the company's stock traded hands, compared to its average volume of 244,567. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.28. The firm's 50 day moving average is $31.22 and its 200-day moving average is $24.61. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -34.36 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.04. The firm had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business's quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. Analysts predict that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KRNT shares. Needham & Company LLC raised their price target on Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Barclays raised 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. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an "overweight" rating and a $39.00 price target on the stock. Craig Hallum raised their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, 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 report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.40.

Kornit Digital Company 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.