JPMorgan Chase & Co. Reduces Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

JPMorgan Chase & Co. trimmed its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 53.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,125 shares of the industrial products company’s stock after selling 12,654 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kornit Digital were worth $344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in Kornit Digital during the 4th quarter worth approximately $298,000. KLP Kapitalforvaltning AS purchased a new position in shares of Kornit Digital during the fourth quarter worth $288,000. Sei Investments Co. raised its holdings in shares of Kornit Digital by 23.0% during the fourth quarter. Sei Investments Co. now owns 269,083 shares of the industrial products company’s stock worth $8,328,000 after purchasing an additional 50,273 shares during the last quarter. American Century Companies Inc. boosted its holdings in Kornit Digital by 8.5% in the fourth quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 874 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Kornit Digital in the fourth quarter valued at $394,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KRNT shares. Needham & Company LLC decreased their price objective on Kornit Digital from $34.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.80.

Kornit Digital Stock Up 2.5 %

KRNT stock opened at $19.34 on Friday. Kornit Digital Ltd. has a 52-week low of $13.59 and a 52-week high of $34.29. The firm has a market cap of $919.66 million, a P/E ratio of -55.26 and a beta of 2.08. The company’s 50-day simple moving average is $19.95 and its 200-day simple moving average is $26.10.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly 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, analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal 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.