UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Kornit Digital Ltd. (NASDAQ:KRNT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 88.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,199 shares of the industrial products company's stock after acquiring an additional 48,993 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Kornit Digital worth $2,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new position in Kornit Digital during the 3rd quarter valued at about $8,887,000. Telemark Asset Management LLC purchased a new position in shares of Kornit Digital in the 3rd quarter valued at about $1,033,000. Lisanti Capital Growth LLC purchased a new position in shares of Kornit Digital in the 3rd quarter valued at about $2,523,000. Privium Fund Management B.V. boosted its stake in shares of Kornit Digital by 8.8% in the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company's stock valued at $305,000 after buying an additional 950 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Kornit Digital in the 3rd quarter valued at about $934,000. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KRNT has been the topic of several research analyst reports. Barclays raised their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 1st. Cantor Fitzgerald initiated coverage on Kornit Digital in a research report on Tuesday, November 26th. They set an "overweight" rating and a $39.00 target price on the stock. Craig Hallum raised their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley raised their target price on Kornit Digital from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, September 13th. Finally, Needham & Company LLC raised their target price 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Kornit Digital presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Kornit Digital Stock Down 1.2 %

KRNT traded down $0.40 during trading on Friday, hitting $32.10. 272,649 shares of the stock were exchanged, compared to its average volume of 362,503. The firm has a market capitalization of $1.53 billion, a P/E ratio of -36.48 and a beta of 2.01. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $33.31. The stock has a fifty day moving average price of $28.24 and a two-hundred day moving average price of $21.43.

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