Quantbot Technologies LP Takes $678,000 Position in Kornit Digital Ltd. $KRNT

Key Points

• Quantbot Technologies LP acquired a new stake of 35,540 shares in Kornit Digital Ltd., valued at approximately $678,000, increasing its ownership to about 0.07% as of its latest SEC filing.
• Several large investors, including Oppenheimer Asset Management and Moody National Bank Trust Division, have also increased their positions in Kornit Digital, indicating strong institutional interest with over 92.76% of the stock now owned by institutional investors.
• Kornit Digital reported $49.75 million in revenue for the last quarter, slightly underperforming against analyst expectations, while the company had a negative return on equity of 0.74% and a net margin of 5.43%.

Quantbot Technologies LP purchased a new stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,540 shares of the industrial products company's stock, valued at approximately $678,000. Quantbot Technologies LP owned 0.07% of Kornit Digital as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Kornit Digital by 3.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 52,953 shares of the industrial products company's stock valued at $1,010,000 after buying an additional 1,646 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Kornit Digital by 5.0% in the 1st quarter. Artemis Investment Management LLP now owns 673,832 shares of the industrial products company's stock valued at $12,857,000 after buying an additional 31,924 shares during the period. Acuitas Investments LLC acquired a new position in shares of Kornit Digital in the 1st quarter valued at $695,000. Moody National Bank Trust Division grew its holdings in shares of Kornit Digital by 39.9% in the 1st quarter. Moody National Bank Trust Division now owns 118,883 shares of the industrial products company's stock valued at $2,268,000 after buying an additional 33,878 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Kornit Digital by 78.6% in the 4th quarter. Northern Trust Corp now owns 204,005 shares of the industrial products company's stock valued at $6,314,000 after buying an additional 89,790 shares during the period. Institutional investors and hedge funds own 92.76% of the company's stock.

Kornit Digital Price Performance

NASDAQ:KRNT traded down $0.20 on Friday, hitting $14.94. 790,214 shares of the company's stock were exchanged, compared to its average volume of 412,433. The firm has a 50-day moving average price of $18.41 and a 200-day moving average price of $20.11. Kornit Digital Ltd. has a 52 week low of $12.78 and a 52 week high of $34.28. The company has a market cap of $669.16 million, a P/E ratio of -59.76 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The firm had revenue of $49.75 million for the quarter, compared to analysts' expectations of $52.07 million. During the same period in the previous year, the firm posted $0.02 EPS. The company's revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts expect that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KRNT has been the subject of several research analyst reports. Barclays set a $22.00 price target on shares of Kornit Digital and gave the company an "equal weight" rating in a report on Thursday, August 7th. Needham & Company LLC dropped their price target on Kornit Digital from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Kornit Digital in a research note on Thursday, May 15th. One 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. Based on data from MarketBeat.com, Kornit Digital presently has a consensus rating of "Buy" and a consensus target price of $31.40.

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.