Kornit Digital Ltd. (NASDAQ:KRNT) Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. lessened its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,145,045 shares of the industrial products company’s stock after selling 12,054 shares during the period. Meitav Investment House Ltd.’s holdings in Kornit Digital were worth $29,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Headlands Technologies LLC grew its stake in shares of Kornit Digital by 97.9% during the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,027 shares during the period. nVerses Capital LLC acquired a new stake in shares of Kornit Digital during the 2nd quarter worth approximately $40,000. Signaturefd LLC grew its stake in shares of 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 during the period. Privium Fund Management B.V. acquired a new stake in shares of Kornit Digital during the 2nd quarter worth approximately $159,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 1,184 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $23.63 on Thursday. Kornit Digital Ltd. has a 1 year low of $13.51 and a 1 year high of $26.64. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -19.37 and a beta of 1.92. The business’s 50 day moving average price is $22.88 and its 200-day moving average price is $18.07.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $48.62 million for the quarter, compared to analyst estimates of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The business’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) EPS. On average, sell-side analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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