Granahan Investment Management LLC Has $49.38 Million Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Granahan Investment Management LLC trimmed its stake in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,595,549 shares of the industrial products company's stock after selling 82,260 shares during the quarter. Kornit Digital makes up about 2.1% of Granahan Investment Management LLC's portfolio, making the stock its 12th biggest holding. Granahan Investment Management LLC owned 3.36% of Kornit Digital worth $49,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverbridge Partners LLC lifted its position in shares of Kornit Digital by 21.1% during the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company's stock valued at $59,643,000 after acquiring an additional 335,713 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of Kornit Digital by 4.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company's stock valued at $41,545,000 after acquiring an additional 57,068 shares during the period. Loomis Sayles & Co. L P raised its holdings in shares of Kornit Digital by 259.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company's stock worth $38,300,000 after buying an additional 893,463 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Kornit Digital by 47.2% during the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company's stock worth $34,036,000 after buying an additional 352,648 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Kornit Digital by 29.7% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 758,761 shares of the industrial products company's stock worth $23,484,000 after buying an additional 173,558 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented 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 raised Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.80.

Kornit Digital Stock Performance

Shares of KRNT stock traded up $0.11 on Monday, hitting $19.30. The company had a trading volume of 346,060 shares, compared to its average volume of 290,388. The firm has a market cap of $917.75 million, a P/E ratio of -55.14 and a beta of 2.00. The stock's 50-day moving average is $19.35 and its two-hundred day moving average is $25.91. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share 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%. Equities research analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current 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.