Driehaus Capital Management LLC Has $9.01 Million Holdings in Kornit Digital Ltd. $KRNT

Key Points

• Driehaus Capital Management LLC increased its holdings in Kornit Digital by 14.3%, owning approximately 472,228 shares valued at $9.01 million.
• Institutional investors own 92.76% of Kornit Digital, with various funds increasing their stakes in the company during the first quarter.
• Analysts have mixed sentiments on Kornit Digital, with price targets ranging from $22.00 to $31.40, reflecting a consensus average "Buy" rating.

Driehaus Capital Management LLC boosted its position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 472,228 shares of the industrial products company's stock after buying an additional 59,172 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.99% of Kornit Digital worth $9,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Kornit Digital during the first quarter worth $101,000. Deutsche Bank AG grew its position in Kornit Digital by 31.5% in the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock worth $148,000 after purchasing an additional 1,143 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Kornit Digital during the 4th quarter worth about $159,000. Bank of New York Mellon Corp raised its position in shares of Kornit Digital by 9.2% during the first quarter. Bank of New York Mellon Corp now owns 13,539 shares of the industrial products company's stock valued at $258,000 after buying an additional 1,141 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Kornit Digital in the fourth quarter valued at about $274,000. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Price Performance

Shares of KRNT traded up $0.11 on Thursday, hitting $14.58. The company's stock had a trading volume of 281,885 shares, compared to its average volume of 306,435. The company has a market capitalization of $652.81 million, a PE ratio of -58.34 and a beta of 1.86. Kornit Digital Ltd. has a fifty-two week low of $12.78 and a fifty-two week high of $34.28. The company has a 50 day moving average price of $18.12 and a 200 day moving average price of $19.88.

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 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 firm had revenue of $49.75 million during the quarter, compared to analysts' expectations of $52.07 million. During the same quarter in the previous year, the company posted $0.02 EPS. Kornit Digital's revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

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