Senvest Management LLC Lowers Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Senvest Management LLC lowered its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,233,349 shares of the industrial products company's stock after selling 258,711 shares during the quarter. Kornit Digital comprises 4.0% of Senvest Management LLC's holdings, making the stock its 11th largest holding. Senvest Management LLC owned 8.90% of Kornit Digital worth $131,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of KRNT. Icon Advisers Inc. Co. purchased a new stake in Kornit Digital in the fourth quarter valued at about $6,190,000. Next Century Growth Investors LLC increased its position in shares of Kornit Digital by 86.5% in the 4th quarter. Next Century Growth Investors LLC now owns 303,497 shares of the industrial products company's stock valued at $9,393,000 after acquiring an additional 140,723 shares during the period. Russell Investments Group Ltd. lifted its position in Kornit Digital by 654.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company's stock worth $64,000 after acquiring an additional 1,800 shares during the period. Envestnet Asset Management Inc. grew its stake in Kornit Digital by 29.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 110,465 shares of the industrial products company's stock valued at $3,419,000 after purchasing an additional 25,446 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Kornit Digital in the fourth quarter valued at about $942,000. 92.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KRNT. Needham & Company LLC reduced their target price on shares of 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 Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Two 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 presently has an average rating of "Moderate Buy" and an average price target of $32.80.

Kornit Digital Trading Down 3.7 %

Shares of Kornit Digital stock traded down $0.70 during trading hours on Friday, reaching $18.40. The stock had a trading volume of 183,886 shares, compared to its average volume of 294,845. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29. The firm has a market capitalization of $874.96 million, a PE ratio of -52.57 and a beta of 2.08. The stock's 50 day moving average is $21.59 and its 200 day moving average is $26.54.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, sell-side analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share 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.