Inflection Point Investments LLP Purchases New Shares in Kornit Digital Ltd. (NASDAQ:KRNT)

Inflection Point Investments LLP acquired a new position in Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 887,975 shares of the industrial products company's stock, valued at approximately $17,014,000. Kornit Digital accounts for about 14.7% of Inflection Point Investments LLP's portfolio, making the stock its 3rd largest holding. Inflection Point Investments LLP owned about 1.77% of Kornit Digital at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KRNT. Allworth Financial LP raised its position in Kornit Digital by 9,252.9% during the third quarter. Allworth Financial LP now owns 1,590 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,573 shares during the period. Headlands Technologies LLC acquired a new position in shares of Kornit Digital during the 3rd quarter worth about $58,000. Anchor Investment Management LLC purchased a new position in Kornit Digital in the 4th quarter valued at about $140,000. Van ECK Associates Corp boosted its holdings in Kornit Digital by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company's stock worth $220,000 after buying an additional 742 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kornit Digital by 22.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,758 shares of the industrial products company's stock worth $222,000 after buying an additional 2,150 shares during the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Trading Down 1.2 %

KRNT stock traded down $0.18 during mid-day trading on Friday, reaching $15.16. The company's stock had a trading volume of 183,404 shares, compared to its average volume of 455,509. The stock has a market cap of $723.74 million, a PE ratio of -12.43 and a beta of 1.88. The company's 50 day moving average is $16.63 and its two-hundred day moving average is $17.35. Kornit Digital Ltd. has a fifty-two week low of $13.29 and a fifty-two week high of $31.94.

Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. Kornit Digital had a negative return on equity of 4.31% and a negative net margin of 27.17%. The firm had revenue of $56.59 million for the quarter, compared to the consensus estimate of $57.35 million. On average, analysts forecast that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KRNT shares. StockNews.com downgraded Kornit Digital from a "hold" rating to a "sell" rating in a research report on Sunday, May 5th. Needham & Company LLC restated a "buy" rating and issued a $27.00 price objective on shares of Kornit Digital in a report on Thursday, May 9th.

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.

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