Driehaus Capital Management LLC Has $12.78 Million Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Driehaus Capital Management LLC grew its holdings in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 413,056 shares of the industrial products company's stock after buying an additional 99,727 shares during the period. Driehaus Capital Management LLC owned 0.87% of Kornit Digital worth $12,784,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in KRNT. Lisanti Capital Growth LLC raised its stake in Kornit Digital by 119.0% in the 4th quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company's stock valued at $6,618,000 after acquiring an additional 116,170 shares during the period. Stephens Investment Management Group LLC raised its position in shares of Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company's stock valued at $41,545,000 after purchasing an additional 57,068 shares during the period. Trexquant Investment LP raised its position in shares of Kornit Digital by 27.3% in the fourth quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company's stock valued at $5,828,000 after purchasing an additional 40,422 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Kornit Digital during the 4th quarter worth about $5,712,000. Finally, Riverbridge Partners LLC boosted its holdings in shares of Kornit Digital by 21.1% during the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company's stock worth $59,643,000 after buying an additional 335,713 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KRNT shares. Needham & Company LLC lowered their price target on shares of Kornit Digital from $34.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Cantor Fitzgerald upgraded Kornit Digital to a "strong-buy" rating in a research note 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Kornit Digital Price Performance

Kornit Digital stock traded up $0.11 during midday trading on Monday, hitting $19.30. The company's stock had a trading volume of 346,060 shares, compared to its average volume of 290,388. The company has a market cap of $917.75 million, a price-to-earnings ratio of -55.14 and a beta of 2.00. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.29. The company has a 50-day moving average price of $19.35 and a two-hundred day moving average price of $25.91.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share 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%. Sell-side analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current 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.