Kornit Digital Ltd. $KRNT Stock Holdings Trimmed by Blair William & Co. IL

Blair William & Co. IL lessened its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 8.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 474,427 shares of the industrial products company’s stock after selling 45,147 shares during the quarter. Blair William & Co. IL owned about 1.06% of Kornit Digital worth $6,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KRNT. Raymond James Financial Inc. acquired a new position in shares of Kornit Digital during the second quarter valued at $31,000. State of Tennessee Department of Treasury acquired a new stake in Kornit Digital in the second quarter worth about $35,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kornit Digital by 1.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,800 shares of the industrial products company’s stock valued at $2,248,000 after buying an additional 2,105 shares in the last quarter. Sei Investments Co. grew its position in Kornit Digital by 0.8% in the 2nd quarter. Sei Investments Co. now owns 271,305 shares of the industrial products company’s stock valued at $5,402,000 after buying an additional 2,195 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Kornit Digital by 8.9% during the 2nd quarter. Jane Street Group LLC now owns 35,927 shares of the industrial products company’s stock valued at $715,000 after buying an additional 2,948 shares during the period. Institutional investors own 92.76% of the company’s stock.

Analyst Ratings Changes

KRNT has been the topic of a number of recent analyst reports. Morgan Stanley restated a “positive” rating and set a $17.00 price target on shares of Kornit Digital in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kornit Digital in a report on Friday, December 26th. Needham & Company LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Kornit Digital in a research note on Wednesday, February 11th. Finally, Wall Street Zen raised Kornit Digital from a “sell” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kornit Digital has an average rating of “Hold” and a consensus target price of $20.25.

Kornit Digital Trading Down 1.2%

Shares of Kornit Digital stock opened at $14.42 on Wednesday. The company’s 50-day moving average price is $14.69 and its two-hundred day moving average price is $14.22. Kornit Digital Ltd. has a 52 week low of $11.93 and a 52 week high of $23.48. The stock has a market cap of $645.87 million, a PE ratio of -46.51 and a beta of 1.79.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $58.86 million during the quarter, compared to analyst estimates of $58.16 million. Kornit Digital had a negative net margin of 6.49% and a negative return on equity of 1.07%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. On average, equities analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Kornit Digital declared that its board has initiated a stock buyback plan on Monday, November 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire up to 17.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.