Morgan Stanley Lowers Stock Position in Kornit Digital Ltd (NASDAQ:KRNT)

Morgan Stanley lowered its position in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 90.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,488 shares of the industrial products company’s stock after selling 121,427 shares during the quarter. Morgan Stanley’s holdings in Kornit Digital were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KRNT. WINTON GROUP Ltd bought a new position in shares of Kornit Digital during the 2nd quarter valued at approximately $207,000. Winslow Evans & Crocker Inc. grew its position in shares of Kornit Digital by 27.0% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 19,576 shares of the industrial products company’s stock worth $620,000 after buying an additional 4,156 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Kornit Digital by 63.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 710,874 shares of the industrial products company’s stock worth $22,506,000 after buying an additional 275,620 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Kornit Digital during the 2nd quarter worth $2,177,000. Finally, Artemis Investment Management LLP bought a new position in shares of Kornit Digital during the 2nd quarter worth $6,913,000. 95.90% of the stock is owned by institutional investors and hedge funds.

KRNT has been the topic of a number of recent research reports. ValuEngine downgraded Kornit Digital from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, August 7th. BidaskClub raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. Stifel Nicolaus set a $35.00 price objective on Kornit Digital and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research raised Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $29.00.

Kornit Digital stock traded down $0.20 during trading on Tuesday, reaching $34.15. 303,643 shares of the company were exchanged, compared to its average volume of 152,532. Kornit Digital Ltd has a 52-week low of $16.10 and a 52-week high of $35.73. The company has a market capitalization of $1.39 billion, a P/E ratio of 142.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.23 and a quick ratio of 6.35. The stock’s 50 day simple moving average is $32.57 and its two-hundred day simple moving average is $29.76.

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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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

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