Kornit Digital Ltd. $KRNT Stock Holdings Decreased by Granahan Investment Management LLC

Granahan Investment Management LLC lowered its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 10.6% during the first quarter, Holdings Channel reports. The fund owned 2,298,471 shares of the industrial products company’s stock after selling 271,192 shares during the quarter. Kornit Digital makes up 1.6% of Granahan Investment Management LLC’s holdings, making the stock its 14th largest holding. Granahan Investment Management LLC owned about 0.05% of Kornit Digital worth $33,696,000 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kornit Digital by 1.8% during 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 worth $2,248,000 after purchasing an additional 2,105 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Kornit Digital by 277.4% in the first quarter. Jane Street Group LLC now owns 32,979 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 24,241 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Kornit Digital by 9.7% in the second quarter. Legal & General Group Plc now owns 51,246 shares of the industrial products company’s stock worth $1,020,000 after buying an additional 4,534 shares during the period. Nebula Research & Development LLC boosted its position in shares of Kornit Digital by 68.9% in the second quarter. Nebula Research & Development LLC now owns 25,390 shares of the industrial products company’s stock worth $506,000 after buying an additional 10,357 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Kornit Digital by 0.8% during the second 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. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KRNT shares. Needham & Company LLC upped their price target on Kornit Digital from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Morgan Stanley raised their price objective on Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Kornit Digital Trading Up 2.4%

Shares of NASDAQ:KRNT opened at $15.23 on Friday. Kornit Digital Ltd. has a 1 year low of $11.93 and a 1 year high of $22.06. The business has a fifty day simple moving average of $15.67 and a 200 day simple moving average of $15.25. The firm has a market cap of $654.43 million, a price-to-earnings ratio of -39.05 and a beta of 1.73.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The firm had revenue of $48.54 million during the quarter, compared to analysts’ expectations of $46.67 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Kornit Digital Ltd. will post -0.31 EPS for the current year.

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.