G2 Investment Partners Management LLC Decreases Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

G2 Investment Partners Management LLC reduced its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,311 shares of the industrial products company's stock after selling 40,455 shares during the quarter. G2 Investment Partners Management LLC owned 0.32% of Kornit Digital worth $4,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company's stock worth $148,000 after purchasing an additional 1,143 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Kornit Digital by 31.8% during the 4th quarter. Driehaus Capital Management LLC now owns 413,056 shares of the industrial products company's stock valued at $12,784,000 after acquiring an additional 99,727 shares during the last quarter. Bosun Asset Management LLC boosted its position in shares of Kornit Digital by 12.5% in the 4th quarter. Bosun Asset Management LLC now owns 49,626 shares of the industrial products company's stock worth $1,536,000 after purchasing an additional 5,505 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Kornit Digital by 2.9% during the fourth quarter. Bank of America Corp DE now owns 156,089 shares of the industrial products company's stock worth $4,831,000 after purchasing an additional 4,384 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Kornit Digital in the fourth quarter valued at about $159,000. 92.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KRNT shares. Needham & Company LLC lowered their price target on Kornit Digital from $34.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Kornit Digital Price Performance

Shares of KRNT stock traded down $0.05 on Tuesday, hitting $19.25. 663,533 shares of the company's stock were exchanged, compared to its average volume of 291,874. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.29. The company has a 50 day moving average of $19.35 and a 200 day moving average of $25.91. The stock has a market cap of $915.38 million, a P/E ratio of -55.00 and a beta of 2.00.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Sell-side analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

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.