Kornit Digital Ltd. $KRNT Shares Sold by Bosun Asset Management LLC

Key Points

• Bosun Asset Management LLC has reduced its position in Kornit Digital Ltd. by 37.5%, now holding 31,040 shares valued at approximately $592,000.
• Several institutional investors, including Castleark Management LLC and Nicholas Investment Partners LP, have made significant changes to their positions in Kornit Digital, contributing to a total of 92.76% institutional ownership of the company.
• Equities analysts have set new price targets for Kornit Digital, with estimates ranging from $22.00 to $31.40, indicating a mixed outlook on the stock with a consensus rating of "Buy."

Bosun Asset Management LLC lessened its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 37.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,040 shares of the industrial products company's stock after selling 18,586 shares during the period. Bosun Asset Management LLC owned approximately 0.07% of Kornit Digital worth $592,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KRNT. Castleark Management LLC purchased a new position in shares of Kornit Digital during the 4th quarter worth about $4,200,000. Nicholas Investment Partners LP lifted its stake in Kornit Digital by 43.1% in the fourth quarter. Nicholas Investment Partners LP now owns 385,082 shares of the industrial products company's stock worth $11,918,000 after purchasing an additional 115,979 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Kornit Digital by 31.8% in the fourth quarter. Driehaus Capital Management LLC now owns 413,056 shares of the industrial products company's stock worth $12,784,000 after purchasing an additional 99,727 shares during the last quarter. Northern Trust Corp boosted its position in shares of Kornit Digital by 78.6% during the fourth quarter. Northern Trust Corp now owns 204,005 shares of the industrial products company's stock valued at $6,314,000 after buying an additional 89,790 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Kornit Digital during the first quarter valued at approximately $1,601,000. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Price Performance

NASDAQ KRNT traded down $0.15 during midday trading on Monday, hitting $15.18. 508,056 shares of the company traded hands, compared to its average volume of 311,115. Kornit Digital Ltd. has a 52 week low of $12.78 and a 52 week high of $34.28. The company's 50-day simple moving average is $17.94 and its 200-day simple moving average is $19.63. The company has a market cap of $679.91 million, a PE ratio of -60.72 and a beta of 1.87.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The firm had revenue of $49.75 million during the quarter, compared to analysts' expectations of $52.07 million. During the same period in the prior year, the business posted $0.02 EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley reiterated an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. Barclays set a $22.00 price target on shares of Kornit Digital and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Finally, Needham & Company LLC decreased their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $31.40.

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.