Legato Capital Management LLC Purchases 118,010 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Legato Capital Management LLC grew its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 307.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,358 shares of the industrial products company’s stock after buying an additional 118,010 shares during the quarter. Kornit Digital makes up about 0.6% of Legato Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Legato Capital Management LLC owned 0.33% of Kornit Digital worth $4,839,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 393 shares in the last quarter. Signaturefd LLC raised its position in Kornit Digital by 69.7% in the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 2,390 shares during the last quarter. Privium Fund Management B.V. boosted its stake in Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 950 shares in the last quarter. Trust Point Inc. grew its holdings in shares of Kornit Digital by 4.6% during the third quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 785 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Kornit Digital by 3.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock valued at $468,000 after buying an additional 625 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Price Performance

KRNT stock opened at $29.15 on Wednesday. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.28. The business’s fifty day moving average is $30.72 and its 200-day moving average is $25.97.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. On average, equities research analysts forecast that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Wall Street Analyst Weigh In

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