Nuveen LLC Purchases Shares of 38,756 Kornit Digital Ltd. $KRNT

Nuveen LLC bought a new position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 38,756 shares of the industrial products company's stock, valued at approximately $739,000. Nuveen LLC owned about 0.08% of Kornit Digital at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Kornit Digital in the fourth quarter worth approximately $14,769,000. Castleark Management LLC bought a new position in Kornit Digital in the fourth quarter worth approximately $4,200,000. Nicholas Investment Partners LP raised its position in Kornit Digital by 43.1% in the fourth quarter. Nicholas Investment Partners LP now owns 385,082 shares of the industrial products company's stock worth $11,918,000 after acquiring an additional 115,979 shares during the period. Driehaus Capital Management LLC raised its position in Kornit Digital by 31.8% in the fourth quarter. Driehaus Capital Management LLC now owns 413,056 shares of the industrial products company's stock worth $12,784,000 after acquiring an additional 99,727 shares during the period. Finally, Northern Trust Corp raised its position in Kornit Digital by 78.6% in the fourth 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 during the period. Hedge funds and other institutional investors own 92.76% of the company's stock.

Kornit Digital Price Performance

Shares of KRNT stock traded up $0.62 on Friday, hitting $15.33. 507,897 shares of the stock traded hands, compared to its average volume of 351,632. The firm has a market cap of $686.71 million, a price-to-earnings ratio of -61.32 and a beta of 1.86. Kornit Digital Ltd. has a 52 week low of $12.78 and a 52 week high of $34.28. The firm has a 50 day simple moving average of $17.94 and a two-hundred day simple moving average of $19.72.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $49.75 million for the quarter, compared to the consensus estimate of $52.07 million. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The company's revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Sell-side analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on KRNT shares. Barclays set a $22.00 price target on shares of Kornit Digital and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Morgan Stanley reiterated an "overweight" rating on shares of Kornit Digital in a research report on Thursday, May 15th. Finally, Needham & Company LLC decreased their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $31.40.

Kornit Digital Company 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.