400,867 Shares in Kornit Digital Ltd. (KRNT) Purchased by Fmr LLC

Fmr LLC acquired a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 400,867 shares of the industrial products company’s stock, valued at approximately $7,757,000. Fmr LLC owned approximately 1.23% of Kornit Digital at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Kornit Digital by 14.5% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,910,209 shares of the industrial products company’s stock valued at $36,963,000 after purchasing an additional 242,177 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Kornit Digital by 64.2% in the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock valued at $24,555,000 after purchasing an additional 496,117 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Kornit Digital by 0.5% in the 2nd quarter. Schroder Investment Management Group now owns 1,065,848 shares of the industrial products company’s stock valued at $20,837,000 after purchasing an additional 5,178 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Kornit Digital by 362.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 861,802 shares of the industrial products company’s stock valued at $16,676,000 after purchasing an additional 675,569 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Kornit Digital by 609.1% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,120 shares of the industrial products company’s stock valued at $11,690,000 after purchasing an additional 518,927 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The business had revenue of $28.59 million during the quarter, compared to analyst estimates of $29.81 million. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share.

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KRNT has been the subject of several recent research reports. Craig Hallum initiated coverage on shares of Kornit Digital in a report on Tuesday, July 11th. They issued a “buy” rating and a $26.00 price target for the company. Zacks Investment Research upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of Kornit Digital from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Canaccord Genuity restated a “buy” rating and issued a $24.00 price target on shares of Kornit Digital in a report on Tuesday, August 8th. Finally, Citigroup Inc. lowered shares of Kornit Digital from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.50 to $14.00 in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.83.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

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Institutional Ownership by Quarter for Kornit Digital (NASDAQ:KRNT)

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