Nicholas Investment Partners LP lifted its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 385,082 shares of the industrial products company's stock after buying an additional 115,979 shares during the quarter. Kornit Digital comprises approximately 1.0% of Nicholas Investment Partners LP's investment portfolio, making the stock its 23rd biggest holding. Nicholas Investment Partners LP owned about 0.81% of Kornit Digital worth $11,918,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of KRNT. Loomis Sayles & Co. L P grew its position 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 during the period. AQR Capital Management LLC acquired a new stake in shares of Kornit Digital during the 4th quarter worth approximately $14,769,000. Assenagon Asset Management S.A. grew its position in shares of Kornit Digital by 421.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company's stock worth $14,567,000 after buying an additional 380,392 shares during the period. Artemis Investment Management LLP grew its position in shares of Kornit Digital by 138.2% during the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company's stock worth $19,867,000 after buying an additional 372,443 shares during the period. Finally, Hood River Capital Management LLC grew its position 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 during the period. Institutional investors and hedge funds own 92.76% of the company's stock.
Kornit Digital Stock Up 0.7%
Kornit Digital stock traded up $0.16 during midday trading on Friday, hitting $22.55. 418,427 shares of the stock were exchanged, compared to its average volume of 297,767. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29. The company has a fifty day simple moving average of $19.39 and a two-hundred day simple moving average of $25.80. The stock has a market capitalization of $1.07 billion, a PE ratio of -64.43 and a beta of 2.00.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The industrial products company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. The company had revenue of $46.46 million during the quarter, compared to the consensus estimate of $47.26 million. As a group, equities research analysts anticipate that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday. Cantor Fitzgerald raised shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.20.
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Kornit Digital Company Profile
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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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