9,300 Shares in Kornit Digital Ltd. (NASDAQ:KRNT) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 9,300 shares of the industrial products company’s stock, valued at approximately $288,000.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 393 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 988 shares during the period. HighTower Advisors LLC purchased a new position in Kornit Digital in the 4th quarter worth about $237,000. US Bancorp DE raised its holdings in Kornit Digital by 7.4% during the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock worth $257,000 after buying an additional 572 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in Kornit Digital during the fourth quarter valued at about $310,000. Institutional investors own 92.76% of the company’s stock.

Analyst Upgrades and Downgrades

KRNT has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley raised their target price on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Kornit Digital presently has an average rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Price Performance

Kornit Digital stock opened at $15.82 on Monday. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The firm has a fifty day moving average price of $24.30 and a two-hundred day moving average price of $27.16. The firm has a market cap of $752.27 million, a price-to-earnings ratio of -45.20 and a beta of 2.08.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, sell-side analysts expect that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

About Kornit Digital

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.