Kornit Digital Ltd. (NASDAQ:KRNT) Holdings Cut by Blair William & Co. IL

Key Points

• Blair William & Co. IL decreased its stake in Kornit Digital Ltd. by 3.3%, now owning approximately 0.91% of the company valued at about $8.3 million.
• Other institutional investors have increased their holdings in Kornit Digital, with Russell Investments Group raising their stake by 654.5% in the 4th quarter.
• Kornit Digital's stock has a current average rating of "Moderate Buy" from analysts, with a consensus target price of $33.20.

Blair William & Co. IL cut its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 434,981 shares of the industrial products company's stock after selling 14,746 shares during the period. Blair William & Co. IL owned 0.91% of Kornit Digital worth $8,299,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Stephens Investment Management Group LLC grew its stake in shares of Kornit Digital by 0.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,353,412 shares of the industrial products company's stock valued at $25,823,000 after buying an additional 11,091 shares during the period. New York State Common Retirement Fund boosted its position in Kornit Digital by 9.1% during the 1st quarter. New York State Common Retirement Fund now owns 189,173 shares of the industrial products company's stock worth $3,609,000 after purchasing an additional 15,803 shares during the period. Bank of New York Mellon Corp boosted its position in 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 worth $258,000 after purchasing an additional 1,141 shares during the period. Teacher Retirement System of Texas boosted its position in Kornit Digital by 69.4% during the 1st quarter. Teacher Retirement System of Texas now owns 21,584 shares of the industrial products company's stock worth $412,000 after purchasing an additional 8,845 shares during the period. Finally, Acuitas Investments LLC purchased a new stake in Kornit Digital during the 1st quarter worth $695,000. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Stock Up 2.0%

NASDAQ KRNT traded up $0.30 on Friday, hitting $15.09. The stock had a trading volume of 530,668 shares, compared to its average volume of 349,374. The company's 50-day moving average is $20.17 and its two-hundred day moving average is $21.65. The stock has a market cap of $717.53 million, a price-to-earnings ratio of -60.36 and a beta of 1.90. Kornit Digital Ltd. has a one year low of $12.78 and a one year high of $34.28.

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, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $49.75 million during the quarter, compared to analysts' expectations of $52.07 million. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The business's revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. On average, sell-side analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KRNT has been the subject of a number of research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Kornit Digital in a research report on Thursday, May 15th. Barclays set a $22.00 price objective on shares of Kornit Digital and gave the stock an "equal weight" rating in a report on Thursday. Finally, Needham & Company LLC cut their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kornit Digital currently has an average rating of "Buy" and an average target price of $31.40.

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.