Janus Henderson Group PLC Buys 95,693 Shares of Kornit Digital Ltd. $KRNT

Janus Henderson Group PLC increased its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 13.7% during the first quarter, HoldingsChannel.com reports. The fund owned 793,194 shares of the industrial products company’s stock after purchasing an additional 95,693 shares during the period. Janus Henderson Group PLC’s holdings in Kornit Digital were worth $11,628,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Senvest Management LLC lifted its holdings in Kornit Digital by 4.1% in the 4th quarter. Senvest Management LLC now owns 4,141,355 shares of the industrial products company’s stock worth $59,553,000 after purchasing an additional 162,100 shares during the last quarter. Morgan Stanley grew its holdings in Kornit Digital by 26.5% during the fourth quarter. Morgan Stanley now owns 3,998,548 shares of the industrial products company’s stock valued at $57,499,000 after purchasing an additional 838,814 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Kornit Digital by 32.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,647,804 shares of the industrial products company’s stock valued at $38,075,000 after purchasing an additional 650,283 shares during the last quarter. Granahan Investment Management LLC raised its position in shares of Kornit Digital by 31.4% in the fourth quarter. Granahan Investment Management LLC now owns 2,569,663 shares of the industrial products company’s stock valued at $36,952,000 after purchasing an additional 614,513 shares during the period. Finally, Baillie Gifford & Co. raised its position in shares of Kornit Digital by 61.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,565,079 shares of the industrial products company’s stock valued at $22,506,000 after purchasing an additional 597,128 shares during the period. 92.76% of the stock is owned by institutional investors.

Kornit Digital Stock Up 7.1%

Shares of KRNT stock opened at $16.98 on Wednesday. Kornit Digital Ltd. has a 12 month low of $11.93 and a 12 month high of $19.78. The firm has a market cap of $729.63 million, a PE ratio of -43.54 and a beta of 1.72. The stock has a 50 day moving average of $15.79 and a 200-day moving average of $15.29.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The business had revenue of $48.54 million for the quarter, compared to the consensus estimate of $46.67 million. During the same quarter last year, the company posted $0.01 earnings per share. Kornit Digital’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Kornit Digital Ltd. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KRNT. Morgan Stanley upped their price objective on shares of Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Needham & Company LLC lifted their target price on shares of Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Zacks Research lowered shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.00.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.