Polar Asset Management Partners Inc. Has $14.87 Million Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Polar Asset Management Partners Inc. reduced its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 22.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,443 shares of the industrial products company's stock after selling 140,600 shares during the quarter. Polar Asset Management Partners Inc. owned 1.01% of Kornit Digital worth $14,870,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KRNT. Fifth Third Bancorp grew its position in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after purchasing an additional 393 shares in the last quarter. Russell Investments Group Ltd. grew 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 purchasing an additional 1,800 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Kornit Digital by 35.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after buying an additional 988 shares during the last quarter. Deutsche Bank AG boosted its stake 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 buying an additional 1,143 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Kornit Digital during the fourth quarter worth about $159,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on KRNT. Needham & Company LLC increased their price objective on shares of Kornit Digital from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley reaffirmed an "overweight" rating on shares of Kornit Digital in a report on Thursday, May 15th. Finally, Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.20.

Kornit Digital Price Performance

Shares of Kornit Digital stock traded down $0.68 during trading on Friday, hitting $21.66. The company's stock had a trading volume of 129,326 shares, compared to its average volume of 299,535. The stock has a 50-day moving average price of $19.49 and a two-hundred day moving average price of $25.54. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -61.89 and a beta of 2.00.

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.