Kornit Digital Ltd. (NASDAQ:KRNT) Shares Sold by Riverbridge Partners LLC

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

Several other hedge funds also recently modified their holdings of KRNT. Russell Investments Group Ltd. lifted its holdings in shares of Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company's stock worth $64,000 after acquiring an additional 1,800 shares during the period. Parkside Financial Bank & Trust raised its holdings in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock valued at $117,000 after buying an additional 988 shares during the period. Deutsche Bank AG grew its position in Kornit Digital by 31.5% in the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock valued at $148,000 after acquiring an additional 1,143 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Kornit Digital during the fourth quarter worth approximately $159,000. Finally, Pictet Asset Management Holding SA acquired a new position in Kornit Digital in the fourth quarter worth $203,000. 92.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Kornit Digital Stock Performance

NASDAQ:KRNT opened at $18.83 on Friday. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The stock has a fifty day moving average price of $20.38 and a 200-day moving average price of $24.49. The company has a market cap of $895.37 million, a price-to-earnings ratio of -104.61 and a beta of 1.93.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.