Riverbridge Partners LLC Sells 168,116 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Riverbridge Partners LLC lessened its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,758,975 shares of the industrial products company's stock after selling 168,116 shares during the quarter. Riverbridge Partners LLC owned about 3.70% of Kornit Digital worth $33,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Chicago Capital LLC boosted its position in Kornit Digital by 0.3% during the first quarter. Chicago Capital LLC now owns 3,105,206 shares of the industrial products company's stock worth $59,247,000 after purchasing an additional 10,656 shares during the period. Loomis Sayles & Co. L P boosted its position in Kornit Digital by 259.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock worth $38,300,000 after purchasing an additional 893,463 shares during the period. Hood River Capital Management LLC boosted its position in Kornit Digital by 47.2% during the fourth quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company's stock worth $34,036,000 after purchasing an additional 352,648 shares during the period. Pathstone Holdings LLC boosted its position in Kornit Digital by 0.8% during the fourth quarter. Pathstone Holdings LLC now owns 859,668 shares of the industrial products company's stock worth $26,607,000 after purchasing an additional 6,503 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in Kornit Digital by 29.7% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 758,761 shares of the industrial products company's stock worth $23,484,000 after purchasing an additional 173,558 shares during the period. Institutional investors own 92.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KRNT. Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 target price on shares of Kornit Digital in a research report on Thursday, June 5th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Kornit Digital in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kornit Digital presently has a consensus rating of "Moderate Buy" and an average price target of $33.20.

Kornit Digital Trading Up 4.1%

Shares of Kornit Digital stock traded up $0.75 on Monday, reaching $18.97. The stock had a trading volume of 242,534 shares, compared to its average volume of 307,433. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29. The company has a market cap of $902.02 million, a P/E ratio of -105.38 and a beta of 1.93. The business's 50 day moving average is $20.37 and its two-hundred day moving average is $24.21.

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.