Kornit Digital Ltd. (NASDAQ:KRNT) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 654.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,075 shares of the industrial products company’s stock after purchasing an additional 1,800 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kornit Digital were worth $64,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Kornit Digital by 29.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 110,465 shares of the industrial products company’s stock worth $3,419,000 after buying an additional 25,446 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Kornit Digital during the fourth quarter worth $942,000. Trexquant Investment LP raised its position in Kornit Digital by 27.3% in the fourth quarter. Trexquant Investment LP now owns 188,307 shares of the industrial products company’s stock valued at $5,828,000 after purchasing an additional 40,422 shares during the period. Geode Capital Management LLC lifted its stake in shares of Kornit Digital by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 85,167 shares of the industrial products company’s stock valued at $2,636,000 after purchasing an additional 1,938 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Kornit Digital during the 4th quarter worth $5,712,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KRNT. Needham & Company LLC reduced their price objective on shares of Kornit Digital from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kornit Digital currently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Kornit Digital Stock Performance

Shares of KRNT opened at $18.49 on Friday. The company’s 50-day simple moving average is $20.61 and its 200-day simple moving average is $26.30. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29. The stock has a market capitalization of $879.24 million, a PE ratio of -52.83 and a beta of 2.08.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. On average, sell-side analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

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.