Driehaus Capital Management LLC Acquires 99,727 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Driehaus Capital Management LLC grew its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,056 shares of the industrial products company’s stock after acquiring an additional 99,727 shares during the quarter. Driehaus Capital Management LLC owned about 0.87% of Kornit Digital worth $12,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KRNT. Lisanti Capital Growth LLC grew its stake in Kornit Digital by 119.0% in the 4th quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock worth $6,618,000 after buying an additional 116,170 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after acquiring an additional 57,068 shares in the last quarter. Trexquant Investment LP grew its position in Kornit Digital by 27.3% in the fourth quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company’s stock worth $5,828,000 after acquiring an additional 40,422 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Kornit Digital in the fourth quarter valued at $5,712,000. Finally, Riverbridge Partners LLC raised its position in Kornit Digital by 21.1% during the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after purchasing an additional 335,713 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

KRNT opened at $19.19 on Friday. The stock’s 50 day simple moving average is $19.43 and its 200 day simple moving average is $25.91. The firm has a market cap of $912.52 million, a price-to-earnings ratio of -54.83 and a beta of 2.00. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on KRNT shares. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Needham & Company LLC reduced their price target on shares of Kornit Digital from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

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.