Millennium Management LLC Has $390,000 Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Millennium Management LLC reduced its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 74.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 SEC filing.

Several other large investors also recently modified their holdings of KRNT. Lisanti Capital Growth LLC lifted its position in Kornit Digital by 119.0% during the fourth quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company's stock worth $6,618,000 after purchasing an additional 116,170 shares during the period. Trexquant Investment LP raised its position in shares of Kornit Digital by 27.3% in the 4th quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company's stock valued at $5,828,000 after buying an additional 40,422 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Kornit Digital during the 4th quarter worth approximately $5,712,000. Northern Trust Corp boosted its position in shares of Kornit Digital by 78.6% during the 4th quarter. Northern Trust Corp now owns 204,005 shares of the industrial products company's stock worth $6,314,000 after acquiring an additional 89,790 shares in the last quarter. Finally, Telemark Asset Management LLC boosted its position in shares of Kornit Digital by 400.0% during the 4th quarter. Telemark Asset Management LLC now owns 200,000 shares of the industrial products company's stock worth $6,190,000 after acquiring an additional 160,000 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley restated an "overweight" rating on shares of Kornit Digital in a research report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price target on shares of Kornit Digital in a research note on Thursday, June 5th. Finally, Cantor Fitzgerald upgraded Kornit Digital to a "strong-buy" rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.20.

Kornit Digital Stock Down 1.7%

Shares of NASDAQ:KRNT traded down $0.39 during trading on Tuesday, hitting $22.36. 361,720 shares of the company were exchanged, compared to its average volume of 299,939. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.28. The company has a market capitalization of $1.06 billion, a P/E ratio of -63.89 and a beta of 1.93. The business's 50 day moving average is $19.87 and its 200-day moving average is $25.03.

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.