Stephens Investment Management Group LLC Acquires 57,068 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Stephens Investment Management Group LLC lifted its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,342,321 shares of the industrial products company’s stock after purchasing an additional 57,068 shares during the quarter. Stephens Investment Management Group LLC owned 2.82% of Kornit Digital worth $41,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KRNT. Trust Point Inc. raised its holdings in Kornit Digital by 10.2% in the 4th quarter. Trust Point Inc. now owns 19,694 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 1,826 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 393 shares during the period. Riverbridge Partners LLC lifted 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 worth $59,643,000 after purchasing an additional 335,713 shares during the period. Artemis Investment Management LLP grew its stake in Kornit Digital by 138.2% during the fourth quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock worth $19,867,000 after buying an additional 372,443 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Kornit Digital by 421.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock valued at $14,567,000 after buying an additional 380,392 shares during the period. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Price Performance

KRNT opened at $28.97 on Friday. The company’s 50 day moving average price is $30.76 and its two-hundred day moving average price is $25.72. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -32.92 and a beta of 2.02. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.28.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. During the same period in the prior year, the business posted ($0.17) earnings per share. Kornit Digital’s quarterly revenue was down 14.3% on a year-over-year basis. As a group, equities research analysts predict that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Craig Hallum increased their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Cantor Fitzgerald assumed coverage on Kornit Digital in a research note on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price target on the stock. Morgan Stanley upped their price objective on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC lifted their target price on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.40.

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.