Kornit Digital Ltd. $KRNT Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 185.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,292,586 shares of the industrial products company’s stock after purchasing an additional 839,336 shares during the period. Assenagon Asset Management S.A.’s holdings in Kornit Digital were worth $18,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Kornit Digital by 8.6% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 359,723 shares of the industrial products company’s stock valued at $5,274,000 after purchasing an additional 28,467 shares in the last quarter. XTX Topco Ltd grew its holdings in Kornit Digital by 202.6% during the 4th quarter. XTX Topco Ltd now owns 50,411 shares of the industrial products company’s stock valued at $725,000 after buying an additional 33,750 shares during the last quarter. Ulysses Management LLC acquired a new stake in Kornit Digital during the 4th quarter valued at $575,000. Quadrature Capital Ltd purchased a new position in Kornit Digital during the fourth quarter worth $144,000. Finally, Millennium Management LLC increased its position in Kornit Digital by 375.6% during the fourth quarter. Millennium Management LLC now owns 174,906 shares of the industrial products company’s stock worth $2,515,000 after buying an additional 138,132 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Up 1.6%

Shares of NASDAQ KRNT opened at $16.06 on Friday. Kornit Digital Ltd. has a 52-week low of $11.93 and a 52-week high of $22.06. The firm has a fifty day moving average of $15.82 and a 200-day moving average of $15.07. The stock has a market capitalization of $719.33 million, a PE ratio of -41.18 and a beta of 1.75.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $48.54 million for the quarter, compared to analyst estimates of $46.67 million. Kornit Digital had a negative return on equity of 1.15% and a negative net margin of 7.93%.The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. Equities research analysts expect that Kornit Digital Ltd. will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KRNT has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Wall Street Zen raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Morgan Stanley boosted their target price on shares of Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.00.

Kornit Digital Profile

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.