Kornit Digital Ltd. $KRNT Holdings Decreased by Yelin Lapidot Holdings Management Ltd.

Yelin Lapidot Holdings Management Ltd. reduced its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 53.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 103,028 shares of the industrial products company’s stock after selling 117,003 shares during the quarter. Yelin Lapidot Holdings Management Ltd.’s holdings in Kornit Digital were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in KRNT. Raymond James Financial Inc. bought a new stake in Kornit Digital during the second quarter valued at $31,000. State of Tennessee Department of Treasury acquired a new position in shares of Kornit Digital in the 2nd quarter valued at about $35,000. CIBC Private Wealth Group LLC grew its position in shares of Kornit Digital by 1,359.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock valued at $26,000 after buying an additional 1,795 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Kornit Digital during the third quarter worth about $27,000. Finally, Headlands Technologies LLC boosted its stake in Kornit Digital by 84.5% in the second quarter. Headlands Technologies LLC now owns 9,807 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 4,491 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

Kornit Digital stock opened at $16.06 on Monday. Kornit Digital Ltd. has a 52-week low of $11.93 and a 52-week high of $22.06. The firm has a market capitalization of $719.41 million, a price-to-earnings ratio of -41.18 and a beta of 1.76. The firm has a 50-day moving average price of $15.82 and a two-hundred day moving average price of $15.08.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $48.54 million for the quarter, compared to analyst estimates of $46.67 million. Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. Kornit Digital’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. Research analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on KRNT. Morgan Stanley upped their target price on Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Needham & Company LLC upped their price objective on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.