Morgan Stanley Cuts Holdings in Kornit Digital Ltd (NASDAQ:KRNT)

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Morgan Stanley trimmed its holdings in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 90.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,488 shares of the industrial products company’s stock after selling 121,427 shares during the period. Morgan Stanley’s holdings in Kornit Digital were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of Kornit Digital in the 2nd quarter worth $103,000. WINTON GROUP Ltd acquired a new stake in shares of Kornit Digital in the 2nd quarter valued at $207,000. LPL Financial LLC acquired a new stake in shares of Kornit Digital in the 2nd quarter valued at $238,000. Magnus Financial Group LLC acquired a new stake in shares of Kornit Digital in the 2nd quarter valued at $244,000. Finally, Atria Investments LLC acquired a new stake in shares of Kornit Digital in the 2nd quarter valued at $251,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on KRNT. TheStreet raised shares of Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. Stifel Nicolaus set a $35.00 price objective on shares of Kornit Digital and gave the company a “buy” rating in a research note on Wednesday, August 7th. BidaskClub raised shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Zacks Investment Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 24th. Finally, ValuEngine lowered shares of Kornit Digital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Kornit Digital presently has a consensus rating of “Buy” and an average target price of $29.00.

Kornit Digital stock traded down $0.20 on Tuesday, reaching $34.15. 303,643 shares of the stock were exchanged, compared to its average volume of 152,532. The stock has a market cap of $1.39 billion, a PE ratio of 142.29 and a beta of 1.11. The company has a current ratio of 7.23, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04. Kornit Digital Ltd has a twelve month low of $16.10 and a twelve month high of $35.73. The firm has a fifty day moving average price of $32.57 and a two-hundred day moving average price of $29.76.

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.

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

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