Taylor Frigon Capital Management LLC Has $5.73 Million Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Taylor Frigon Capital Management LLC trimmed its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,383 shares of the industrial products company’s stock after selling 23,431 shares during the period. Kornit Digital comprises about 2.9% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Taylor Frigon Capital Management LLC’s holdings in Kornit Digital were worth $5,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of KRNT. Headlands Technologies LLC increased its holdings in Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 1,027 shares in the last quarter. nVerses Capital LLC acquired a new stake in Kornit Digital during the 2nd quarter worth $40,000. Signaturefd LLC increased its stake in Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares in the last quarter. Privium Fund Management B.V. bought a new stake in shares of Kornit Digital during the second quarter worth $159,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after buying an additional 1,184 shares during the period. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Stock Performance

Shares of NASDAQ KRNT traded down $0.24 during trading hours on Thursday, reaching $23.39. 23,666 shares of the stock were exchanged, compared to its average volume of 370,371. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -19.37 and a beta of 1.92. The stock’s fifty day simple moving average is $22.39 and its 200 day simple moving average is $17.80. Kornit Digital Ltd. has a 52 week low of $13.29 and a 52 week high of $26.64.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The firm had revenue of $48.62 million for the quarter, compared to analysts’ expectations of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.28) EPS. Research analysts predict that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on KRNT. Morgan Stanley boosted their target price on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Needham & Company LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Kornit Digital in a research note on Thursday, September 12th. Barclays upped their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Craig Hallum increased their price objective on shares of Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Kornit Digital 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.