Tectonic Advisors LLC Sells 20,381 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Tectonic Advisors LLC decreased its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 74.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,894 shares of the industrial products company's stock after selling 20,381 shares during the quarter. Tectonic Advisors LLC's holdings in Kornit Digital were worth $213,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Artemis Investment Management LLP purchased a new position in shares of Kornit Digital during the third quarter worth approximately $6,962,000. Trust Point Inc. increased its holdings in Kornit Digital by 4.6% during the 3rd quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company's stock worth $462,000 after purchasing an additional 785 shares during the period. Chicago Capital LLC raised its position in Kornit Digital by 8.1% during the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company's stock valued at $79,811,000 after purchasing an additional 231,659 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Kornit Digital by 69.7% in the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company's stock worth $150,000 after buying an additional 2,390 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Kornit Digital by 238.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company's stock worth $2,332,000 after buying an additional 63,629 shares during the period. 92.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on KRNT shares. Morgan Stanley lifted their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an "overweight" rating and a $39.00 price target for the company. Craig Hallum increased their price objective on shares of 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 lifted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.40.

Kornit Digital Trading Down 0.5 %

NASDAQ KRNT opened at $29.39 on Friday. The firm's fifty day simple moving average is $30.86 and its two-hundred day simple moving average is $25.60. The firm has a market capitalization of $1.40 billion, a P/E ratio of -33.40 and a beta of 2.02. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.28.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its earnings results 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. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The firm had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm's revenue for the quarter was down 14.3% on a year-over-year basis. As a group, sell-side analysts predict that Kornit Digital Ltd. will post -0.22 earnings per share for the current fiscal 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.

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