Meitav Investment House Ltd. Has $18.60 Million Position in Kornit Digital Ltd. $KRNT

Key Points

• Meitav Investment House Ltd. has reduced its stake in Kornit Digital Ltd. by 17.7%, now holding $18.60 million worth of shares after selling over 201,000 during the second quarter.
• Hedge funds collectively own 92.76% of Kornit Digital, with various funds adjusting their stakes, including Chicago Capital LLC and Dudley & Shanley Inc., which saw significant increases in their holdings.
• Analysts have mixed views on Kornit Digital, with price targets ranging significantly; Barclays set it at $22.00 while Needham lowered theirs to $25.00, indicating cautious optimism amidst fluctuating earnings reports.

Meitav Investment House Ltd. lowered its position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 17.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 933,684 shares of the industrial products company's stock after selling 201,106 shares during the period. Meitav Investment House Ltd. owned 1.96% of Kornit Digital worth $18,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Chicago Capital LLC increased its holdings in Kornit Digital by 0.3% in the first quarter. Chicago Capital LLC now owns 3,105,206 shares of the industrial products company's stock worth $59,247,000 after buying an additional 10,656 shares during the last quarter. Granahan Investment Management LLC grew its holdings in Kornit Digital by 6.2% during 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 during the last quarter. Stephens Investment Management Group LLC grew its holdings in Kornit Digital by 0.8% during the first 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 purchasing an additional 11,091 shares during the last quarter. Artemis Investment Management LLP grew its holdings in Kornit Digital by 5.0% during the first quarter. Artemis Investment Management LLP now owns 673,832 shares of the industrial products company's stock valued at $12,857,000 after purchasing an additional 31,924 shares during the last quarter. Finally, Dudley & Shanley Inc. grew its holdings in Kornit Digital by 98.4% during the second quarter. Dudley & Shanley Inc. now owns 637,300 shares of the industrial products company's stock valued at $12,689,000 after purchasing an additional 316,150 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KRNT shares. Barclays set a $22.00 price target on Kornit Digital and gave the company an "equal weight" rating in a report on Thursday, August 7th. Needham & Company LLC lowered their price target on Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Kornit Digital in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.40.

Kornit Digital Trading Up 2.9%

KRNT opened at $14.02 on Tuesday. Kornit Digital Ltd. has a 1-year low of $12.78 and a 1-year high of $34.28. The stock has a market capitalization of $628.03 million, a price-to-earnings ratio of -56.08 and a beta of 1.90. The business has a 50 day moving average of $15.32 and a 200-day moving average of $18.39.

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

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.

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