Northern Trust Corp Buys 89,790 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Northern Trust Corp increased its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 78.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 204,005 shares of the industrial products company’s stock after buying an additional 89,790 shares during the quarter. Northern Trust Corp owned 0.43% of Kornit Digital worth $6,314,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KRNT. JPMorgan Chase & Co. increased its position in shares of Kornit Digital by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 23,779 shares of the industrial products company’s stock valued at $614,000 after acquiring an additional 1,284 shares during the last quarter. Riverbridge Partners LLC raised its position in shares of Kornit Digital by 21.1% in the fourth quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after buying an additional 335,713 shares in the last quarter. Fifth Third Bancorp lifted its stake in Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 393 shares during the last quarter. Trust Point Inc. increased its holdings in shares of Kornit Digital by 10.2% during the fourth quarter. Trust Point Inc. now owns 19,694 shares of the industrial products company’s stock worth $610,000 after buying an additional 1,826 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in shares of Kornit Digital by 4.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock worth $41,545,000 after buying an additional 57,068 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Up 3.0%

KRNT opened at $23.22 on Tuesday. The firm has a 50 day moving average price of $19.43 and a 200-day moving average price of $25.84. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -66.34 and a beta of 2.00.

Analyst Ratings Changes

KRNT has been the topic of a number of research analyst reports. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Needham & Company LLC raised their price target on shares of Kornit Digital from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Kornit Digital in a report on Thursday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.20.

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.