Chicago Capital LLC Sells 40,455 Shares of Kornit Digital Ltd. $KRNT

Key Points

• Chicago Capital LLC reduced its holdings in Kornit Digital Ltd. by 1.3%, selling 40,455 shares and now owning approximately 3,064,751 shares, which is 1.5% of its investment portfolio.
• Kornit Digital's stock performance shows a significant drop from its 52-week high of $34.28 to a current value around $13.51, with recent quarterly revenue of $49.75 million, slightly below the estimated $52.07 million.
• Analysts have set a consensus target price of $31.40 for Kornit Digital, with ratings including "buy" and "strong buy" from various research firms, indicating potential growth despite current challenges.

Chicago Capital LLC lowered its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,064,751 shares of the industrial products company's stock after selling 40,455 shares during the quarter. Kornit Digital comprises about 1.5% of Chicago Capital LLC's investment portfolio, making the stock its 26th biggest position. Chicago Capital LLC owned approximately 6.45% of Kornit Digital worth $61,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KRNT. Fortitude Family Office LLC bought a new position in shares of Kornit Digital during the 2nd quarter valued at $99,000. Headlands Technologies LLC bought a new position in shares of Kornit Digital during the 1st quarter valued at $101,000. Deutsche Bank AG raised its holdings in shares of Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock valued at $148,000 after purchasing an additional 1,143 shares in the last quarter. CHICAGO TRUST Co NA bought a new position in shares of Kornit Digital during the 2nd quarter valued at $223,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Kornit Digital by 9.2% during the 1st quarter. Bank of New York Mellon Corp now owns 13,539 shares of the industrial products company's stock valued at $258,000 after purchasing an additional 1,141 shares in the last quarter. Institutional investors own 92.76% of the company's stock.

Kornit Digital Stock Performance

NASDAQ:KRNT opened at $13.51 on Tuesday. The firm's 50-day moving average is $16.09 and its 200-day moving average is $18.67. Kornit Digital Ltd. has a 52-week low of $12.78 and a 52-week high of $34.28. The company has a market cap of $605.11 million, a price-to-earnings ratio of -54.04 and a beta of 1.87.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Barclays set a $22.00 target price on shares of Kornit Digital and gave the stock an "equal weight" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Kornit Digital 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.

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