Assenagon Asset Management S.A. Boosts Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Assenagon Asset Management S.A. increased its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 238.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,282 shares of the industrial products company’s stock after purchasing an additional 63,629 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.19% of Kornit Digital worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its holdings in Kornit Digital by 13.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 39,515 shares of the industrial products company’s stock valued at $716,000 after buying an additional 4,725 shares during the period. Headlands Technologies LLC increased 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 valued at $38,000 after acquiring an additional 1,027 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Kornit Digital by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 931,706 shares of the industrial products company’s stock valued at $16,883,000 after acquiring an additional 35,930 shares during the last quarter. Roubaix Capital LLC increased its stake in shares of Kornit Digital by 104.9% during the 1st quarter. Roubaix Capital LLC now owns 141,875 shares of the industrial products company’s stock valued at $2,571,000 after acquiring an additional 72,638 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its stake in shares of Kornit Digital by 26.6% during the 1st quarter. Kennedy Capital Management LLC now owns 95,581 shares of the industrial products company’s stock valued at $1,732,000 after acquiring an additional 20,067 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KRNT. Needham & Company LLC reiterated a “buy” rating and set a $27.00 target price on shares of Kornit Digital in a report on Thursday, September 12th. Craig Hallum boosted their target price on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley boosted their target price on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. StockNews.com upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Barclays boosted their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Kornit Digital Stock Down 3.1 %

NASDAQ KRNT opened at $22.89 on Friday. The stock has a market cap of $1.09 billion, a PE ratio of -19.37 and a beta of 1.92. Kornit Digital Ltd. has a fifty-two week low of $13.51 and a fifty-two week high of $26.64. The business has a 50 day moving average price of $22.88 and a two-hundred day moving average price of $18.07.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $48.62 million during the quarter, compared to analysts’ expectations of $50.24 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. Kornit Digital’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) EPS. Sell-side analysts anticipate that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.

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.