Millennium Management LLC Trims Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Millennium Management LLC cut its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 74.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,604 shares of the industrial products company's stock after selling 37,693 shares during the quarter. Millennium Management LLC's holdings in Kornit Digital were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KRNT. US Bancorp DE boosted its holdings in shares of Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock valued at $257,000 after buying an additional 572 shares in the last quarter. American Century Companies Inc. lifted its position in Kornit Digital by 8.5% during the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock valued at $344,000 after acquiring an additional 874 shares during the period. Parkside Financial Bank & Trust boosted its stake in Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after acquiring an additional 988 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Kornit Digital by 6.0% in the fourth quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company's stock worth $546,000 after purchasing an additional 1,000 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Kornit Digital by 31.5% during the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock valued at $148,000 after purchasing an additional 1,143 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kornit Digital Stock Performance

Shares of NASDAQ KRNT traded down $0.84 during midday trading on Friday, hitting $19.54. 413,573 shares of the stock traded hands, compared to its average volume of 303,885. The firm has a market capitalization of $929.17 million, a P/E ratio of -55.83 and a beta of 1.93. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $34.28. The firm has a 50-day moving average of $20.20 and a two-hundred day moving average of $24.91.

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.