D. E. Shaw & Co. Inc. Decreases Position in Kornit Digital Ltd. (NASDAQ:KRNT)

D. E. Shaw & Co. Inc. reduced its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 462,949 shares of the industrial products company's stock after selling 224,391 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.97% of Kornit Digital worth $14,328,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC raised its stake in shares of Kornit Digital by 130.1% during the third quarter. Barclays PLC now owns 20,420 shares of the industrial products company's stock valued at $527,000 after purchasing an additional 11,544 shares during the period. JPMorgan Chase & Co. lifted its holdings in Kornit Digital by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,779 shares of the industrial products company's stock worth $614,000 after buying an additional 1,284 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Kornit Digital by 421.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company's stock valued at $14,567,000 after buying an additional 380,392 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company's stock valued at $19,867,000 after acquiring an additional 372,443 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its stake in shares of Kornit Digital by 21.1% in the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company's stock worth $59,643,000 after acquiring an additional 335,713 shares in the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KRNT has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price objective on Kornit Digital from $34.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald raised shares of Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.80.

Kornit Digital Price Performance

Kornit Digital stock opened at $19.25 on Wednesday. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.29. The company has a fifty day moving average price of $19.35 and a two-hundred day moving average price of $25.91. The company has a market cap of $915.38 million, a PE ratio of -55.00 and a beta of 2.00.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current 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.

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