Assenagon Asset Management S.A. Sells 16,954 Shares of Kornit Digital Ltd. $KRNT

Assenagon Asset Management S.A. cut its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 453,250 shares of the industrial products company’s stock after selling 16,954 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.95% of Kornit Digital worth $9,024,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KRNT. BNP Paribas Financial Markets acquired a new position in shares of Kornit Digital in the fourth quarter valued at about $159,000. Bank of America Corp DE boosted its holdings in Kornit Digital by 2.9% in the 4th quarter. Bank of America Corp DE now owns 156,089 shares of the industrial products company’s stock valued at $4,831,000 after purchasing an additional 4,384 shares during the period. Deutsche Bank AG grew its position in shares of Kornit Digital by 31.5% during the 4th quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 1,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Kornit Digital by 11.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,695 shares of the industrial products company’s stock worth $3,581,000 after purchasing an additional 11,496 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Kornit Digital during the fourth quarter worth approximately $399,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KRNT shares. Needham & Company LLC cut their price target on shares of Kornit Digital from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Barclays set a $22.00 price target on Kornit Digital and gave the company an “equal weight” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $31.40.

Kornit Digital Stock Down 1.1%

NASDAQ KRNT opened at $14.66 on Wednesday. The stock’s 50-day simple moving average is $16.69 and its two-hundred day simple moving average is $18.89. Kornit Digital Ltd. has a twelve month low of $12.78 and a twelve month high of $34.28. The company has a market capitalization of $656.62 million, a price-to-earnings ratio of -58.64 and a beta of 1.86.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Kornit Digital had a negative net margin of 5.43% and a negative return on equity of 0.74%. The company had revenue of $49.75 million for the quarter, compared to analyst estimates of $52.07 million. During the same quarter last year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts expect that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Kornit Digital Company 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.