Principal Financial Group Inc. Cuts Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Principal Financial Group Inc. lowered its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 60.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,758 shares of the industrial products company’s stock after selling 35,826 shares during the quarter. Principal Financial Group Inc.’s holdings in Kornit Digital were worth $453,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of KRNT. California State Teachers Retirement System increased its holdings in shares of Kornit Digital by 1.2% in the 4th quarter. California State Teachers Retirement System now owns 46,855 shares of the industrial products company’s stock valued at $1,450,000 after purchasing an additional 575 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Kornit Digital by 8.5% in the 4th 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 in the last quarter. Deutsche Bank AG increased its holdings in shares of Kornit Digital by 31.5% in the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 1,143 shares in the last quarter. Nebula Research & Development LLC increased its holdings in shares of Kornit Digital by 11.1% in the 4th quarter. Nebula Research & Development LLC now owns 11,621 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 1,161 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Kornit Digital by 3.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 52,953 shares of the industrial products company’s stock valued at $1,010,000 after purchasing an additional 1,646 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Trading Down 1.1%

NASDAQ:KRNT opened at $21.49 on Monday. The firm has a 50-day moving average price of $20.90 and a two-hundred day moving average price of $22.64. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29. The company has a market capitalization of $1.02 billion, a P/E ratio of -119.38 and a beta of 1.88.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KRNT shares. Morgan Stanley reiterated an “overweight” rating on shares of Kornit Digital in a report on Thursday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Kornit Digital in a report on Thursday, June 5th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kornit Digital currently has a consensus rating of “Moderate Buy” and a consensus 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.