AQR Capital Management LLC Makes New $14.77 Million Investment in Kornit Digital Ltd. (NASDAQ:KRNT)

AQR Capital Management LLC purchased a new position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 477,179 shares of the industrial products company's stock, valued at approximately $14,769,000. AQR Capital Management LLC owned 1.00% of Kornit Digital as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its position in Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after buying an additional 393 shares during the last quarter. Russell Investments Group Ltd. raised its position in Kornit Digital by 654.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company's stock worth $64,000 after buying an additional 1,800 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after buying an additional 988 shares during the last quarter. Pictet Asset Management Holding SA purchased a new position in Kornit Digital in the 4th quarter worth about $203,000. Finally, HighTower Advisors LLC purchased a new position in Kornit Digital in the 4th quarter worth about $237,000. Hedge funds and other institutional investors own 92.76% of the company's stock.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT traded up $0.01 during mid-day trading on Friday, reaching $19.19. 199,756 shares of the company traded hands, compared to its average volume of 290,164. The company's 50 day moving average price is $19.43 and its 200-day moving average price is $25.94. The firm has a market cap of $912.52 million, a PE ratio of -54.83 and a beta of 2.00. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. On average, research analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on KRNT. Needham & Company LLC decreased their target price on Kornit Digital from $34.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald raised shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.80.

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.