State Street Corp Has $14.62 Million Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

State Street Corp lessened its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 565,849 shares of the industrial products company's stock after selling 24,276 shares during the quarter. State Street Corp owned 1.19% of Kornit Digital worth $14,619,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of KRNT. nVerses Capital LLC bought a new position in shares of Kornit Digital in the second quarter valued at approximately $40,000. Signaturefd LLC boosted its stake in Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company's stock worth $50,000 after purchasing an additional 779 shares in the last quarter. Privium Fund Management B.V. bought a new stake in shares of Kornit Digital during the second quarter worth $159,000. Bank of New York Mellon Corp lifted its position in Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company's stock valued at $235,000 after purchasing an additional 1,184 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Kornit Digital by 26.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company's stock valued at $256,000 after purchasing an additional 3,633 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KRNT shares. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price objective on the stock. Barclays lifted their price objective on Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 1st. Morgan Stanley raised their target price on Kornit Digital from $33.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. 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. Finally, Needham & Company LLC raised their price target on Kornit Digital from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Kornit Digital presently has an average rating of "Moderate Buy" and an average price target of $33.40.

Kornit Digital Stock Performance

Kornit Digital stock traded down $0.17 during midday trading on Wednesday, reaching $31.78. The stock had a trading volume of 113,675 shares, compared to its average volume of 360,168. The stock has a market capitalization of $1.51 billion, a P/E ratio of -36.11 and a beta of 2.01. The firm's fifty day simple moving average is $29.34 and its 200-day simple moving average is $22.35. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.28.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $50.73 million for 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 firm's revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. On average, sell-side analysts anticipate that Kornit Digital Ltd. will post -0.22 earnings per share for the current fiscal year.

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.