Kornit Digital Ltd. $KRNT Stock Holdings Lessened by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 8.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kornit Digital were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Kornit Digital in the second quarter worth approximately $99,000. Headlands Technologies LLC bought a new position in Kornit Digital during the first quarter valued at approximately $101,000. CHICAGO TRUST Co NA bought a new position in Kornit Digital during the second quarter valued at approximately $223,000. Bank of New York Mellon Corp raised its position in Kornit Digital by 9.2% during the first quarter. Bank of New York Mellon Corp now owns 13,539 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its position in Kornit Digital by 111.7% during the first quarter. Fox Run Management L.L.C. now owns 20,370 shares of the industrial products company’s stock valued at $389,000 after acquiring an additional 10,748 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Trading Up 2.9%

Shares of Kornit Digital stock opened at $14.02 on Tuesday. The company’s fifty day simple moving average is $15.32 and its 200-day simple moving average is $18.39. The company has a market cap of $628.03 million, a price-to-earnings ratio of -56.08 and a beta of 1.90. Kornit Digital Ltd. has a 1 year low of $12.78 and a 1 year high of $34.28.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $49.75 million for the quarter, compared to the consensus estimate of $52.07 million. During the same quarter last year, the company posted $0.02 earnings per share. Kornit Digital’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KRNT shares. Barclays set a $22.00 price objective on shares of Kornit Digital and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kornit Digital in a research report on Saturday, September 27th. Finally, Needham & Company LLC cut their price objective on shares of Kornit Digital from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.40.

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.