Polar Asset Management Partners Inc. Sells 140,600 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Polar Asset Management Partners Inc. cut its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 480,443 shares of the industrial products company's stock after selling 140,600 shares during the period. Polar Asset Management Partners Inc. owned approximately 1.01% of Kornit Digital worth $14,870,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KRNT. Fifth Third Bancorp raised its position in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 393 shares in the last quarter. US Bancorp DE lifted its stake in shares of Kornit Digital by 7.4% in the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company's stock worth $257,000 after acquiring an additional 572 shares during the period. American Century Companies Inc. increased its position in shares of Kornit Digital by 8.5% during the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock valued at $344,000 after purchasing an additional 874 shares during the period. Parkside Financial Bank & Trust raised its position in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after acquiring an additional 988 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Kornit Digital by 6.0% in the 4th quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company's stock worth $546,000 after purchasing an additional 1,000 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Stock Performance

KRNT stock traded up $0.67 during mid-day trading on Monday, hitting $23.22. The company had a trading volume of 389,024 shares, compared to its average volume of 298,589. The firm has a market cap of $1.10 billion, a PE ratio of -66.34 and a beta of 2.00. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.29. The stock's fifty day moving average price is $19.39 and its two-hundred day moving average price is $25.84.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Kornit Digital from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley reiterated an "overweight" rating on shares of Kornit Digital in a report on Thursday. Finally, Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.20.

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.