Silverberg Bernstein Capital Management LLC Buys 40,325 Shares of Kornit Digital Ltd. $KRNT

Silverberg Bernstein Capital Management LLC lifted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 16.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 281,082 shares of the industrial products company’s stock after purchasing an additional 40,325 shares during the quarter. Kornit Digital accounts for about 2.3% of Silverberg Bernstein Capital Management LLC’s portfolio, making the stock its 11th largest position. Silverberg Bernstein Capital Management LLC owned about 0.63% of Kornit Digital worth $3,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Kornit Digital during the second quarter worth $31,000. State of Tennessee Department of Treasury acquired a new stake in shares of Kornit Digital during the 2nd quarter valued at $35,000. Fortitude Family Office LLC bought a new stake in Kornit Digital during the 2nd quarter worth $99,000. Headlands Technologies LLC grew its position in Kornit Digital by 84.5% during the 2nd quarter. Headlands Technologies LLC now owns 9,807 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 4,491 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in Kornit Digital in the 2nd quarter worth about $214,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Price Performance

Shares of KRNT stock opened at $13.48 on Thursday. The stock has a market capitalization of $603.77 million, a PE ratio of -46.48 and a beta of 1.87. The business’s 50 day simple moving average is $13.56 and its 200 day simple moving average is $16.19. Kornit Digital Ltd. has a one year low of $11.93 and a one year high of $34.28.

Kornit Digital announced that its Board of Directors has approved a share buyback plan on Monday, November 17th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 17.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

KRNT has been the topic of a number of recent research reports. Cantor Fitzgerald cut their price target on Kornit Digital from $28.50 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price objective (down previously from $20.00) on shares of Kornit Digital in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kornit Digital in a research report on Wednesday, October 8th. Needham & Company LLC decreased their price target on shares of Kornit Digital from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Barclays dropped their price target on shares of Kornit Digital from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kornit Digital presently has an average rating of “Hold” and an average target price of $19.75.

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.