Stephens Investment Management Group LLC Sells 11,281 Shares of Kornit Digital Ltd (NASDAQ:KRNT)

Stephens Investment Management Group LLC decreased its stake in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,424,262 shares of the industrial products company’s stock after selling 11,281 shares during the period. Stephens Investment Management Group LLC’s holdings in Kornit Digital were worth $45,092,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Kornit Digital by 3.9% during the fourth quarter. Bank of America Corp DE now owns 408,318 shares of the industrial products company’s stock worth $7,644,000 after acquiring an additional 15,377 shares in the last quarter. CWM LLC boosted its holdings in Kornit Digital by 19.5% during the first quarter. CWM LLC now owns 209,812 shares of the industrial products company’s stock worth $4,994,000 after purchasing an additional 34,278 shares during the last quarter. Chicago Capital LLC boosted its holdings in Kornit Digital by 4.7% during the first quarter. Chicago Capital LLC now owns 1,245,337 shares of the industrial products company’s stock worth $29,639,000 after purchasing an additional 55,506 shares during the last quarter. Redmond Asset Management LLC boosted its holdings in Kornit Digital by 1.5% during the first quarter. Redmond Asset Management LLC now owns 28,153 shares of the industrial products company’s stock worth $670,000 after purchasing an additional 419 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Kornit Digital during the first quarter worth $165,000. 85.24% of the stock is owned by institutional investors.

KRNT has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th. BidaskClub upgraded shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. TheStreet raised shares of Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective (up from $32.00) on shares of Kornit Digital in a research report on Tuesday, June 18th. Finally, Stifel Nicolaus set a $35.00 price objective on shares of Kornit Digital and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.00.

NASDAQ:KRNT traded up $0.04 during mid-day trading on Thursday, reaching $27.07. 1,756 shares of the company’s stock were exchanged, compared to its average volume of 271,684. Kornit Digital Ltd has a one year low of $16.10 and a one year high of $32.20. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 113.21 and a beta of 1.05. The business’s fifty day moving average is $29.95. The company has a quick ratio of 6.35, a current ratio of 7.23 and a debt-to-equity ratio of 0.04.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Kornit Digital had a return on equity of 3.04% and a net margin of 5.69%. The business had revenue of $43.89 million for the quarter, compared to the consensus estimate of $45.91 million. During the same period in the prior year, the business posted $0.09 earnings per share. Kornit Digital’s revenue was up 22.3% compared to the same quarter last year. As a group, analysts expect that Kornit Digital Ltd will post 0.3 earnings per share for the current fiscal year.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

See Also: Cost of Goods Sold (COGS)

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Institutional Ownership by Quarter for Kornit Digital (NASDAQ:KRNT)

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