Kornit Digital Ltd. $KRNT is Inflection Point Investments LLP's 2nd Largest Position

Key Points

• Inflection Point Investments LLP has reduced its stake in Kornit Digital Ltd. by 26.4%, now holding approximately 358,858 shares, making it the second largest position in their portfolio.
• Several institutional investors increased their stakes in Kornit Digital, with Dudley & Shanley Inc. raising theirs by 98.4% to own 637,300 shares valued at $12,689,000 as of the second quarter.
• Kornit Digital's earnings report indicated a small beat on EPS at $0.03, but revenue fell short of expectations at $49.75 million, reflecting a 2.5% year-over-year revenue increase.

Inflection Point Investments LLP decreased its holdings in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 26.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,858 shares of the industrial products company's stock after selling 128,404 shares during the period. Kornit Digital accounts for about 13.5% of Inflection Point Investments LLP's holdings, making the stock its 2nd biggest position. Inflection Point Investments LLP owned 0.75% of Kornit Digital worth $7,145,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Dudley & Shanley Inc. grew its stake in Kornit Digital by 98.4% in the 2nd quarter. Dudley & Shanley Inc. now owns 637,300 shares of the industrial products company's stock valued at $12,689,000 after buying an additional 316,150 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in shares of Kornit Digital by 21.7% in the first quarter. Polar Asset Management Partners Inc. now owns 584,460 shares of the industrial products company's stock valued at $11,151,000 after purchasing an additional 104,017 shares in the last quarter. Granahan Investment Management LLC grew its position in shares of Kornit Digital by 6.2% in the first quarter. Granahan Investment Management LLC now owns 1,693,833 shares of the industrial products company's stock valued at $32,318,000 after purchasing an additional 98,284 shares in the last quarter. Blair William & Co. IL grew its position in shares of Kornit Digital by 19.4% in the second quarter. Blair William & Co. IL now owns 519,574 shares of the industrial products company's stock valued at $10,345,000 after purchasing an additional 84,593 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Kornit Digital in the first quarter valued at $1,601,000. Hedge funds and other institutional investors own 92.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KRNT shares. Needham & Company LLC reduced their target price on Kornit Digital from $30.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Barclays set a $22.00 target price on Kornit Digital and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kornit Digital in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.40.

Kornit Digital Trading Up 4.0%

KRNT opened at $14.08 on Tuesday. The stock has a 50-day moving average price of $14.69 and a 200-day moving average price of $18.14. Kornit Digital Ltd. has a 12-month low of $12.78 and a 12-month high of $34.28. The stock has a market capitalization of $630.64 million, a P/E ratio of -56.32 and a beta of 1.90.

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 analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $49.75 million during the quarter, compared to analysts' expectations of $52.07 million. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS. On average, equities research analysts predict that Kornit Digital Ltd. will post -0.2 EPS 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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