Kornitzer Capital Management Inc. KS lessened its holdings in Kornit Digital Ltd (NASDAQ:KRNT) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 560,455 shares of the industrial products company’s stock after selling 2,915 shares during the period. Kornitzer Capital Management Inc. KS owned about 1.39% of Kornit Digital worth $17,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its stake 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 acquiring an additional 275,620 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Kornit Digital by 41.2% during the 1st quarter. Wasatch Advisors Inc. now owns 799,339 shares of the industrial products company’s stock worth $19,024,000 after acquiring an additional 233,397 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Kornit Digital during the 2nd quarter worth approximately $6,913,000. BlackRock Inc. raised its stake in shares of Kornit Digital by 20.3% during the 4th quarter. BlackRock Inc. now owns 494,083 shares of the industrial products company’s stock worth $9,249,000 after acquiring an additional 83,303 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Kornit Digital during the 2nd quarter worth approximately $2,177,000. 85.24% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital stock traded down $0.79 during mid-day trading on Wednesday, reaching $27.10. 2,068 shares of the company traded hands, compared to its average volume of 354,723. The company has a quick ratio of 6.35, a current ratio of 7.23 and a debt-to-equity ratio of 0.04. Kornit Digital Ltd has a fifty-two week low of $16.10 and a fifty-two week high of $32.20. The firm has a market capitalization of $1.11 billion, a P/E ratio of 113.63 and a beta of 1.05. The company has a fifty day moving average price of $29.96.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). Kornit Digital had a net margin of 5.69% and a return on equity of 3.04%. The company had revenue of $43.89 million for the quarter, compared to analyst estimates of $45.91 million. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. Research analysts anticipate that Kornit Digital Ltd will post 0.3 EPS for the current year.

KRNT has been the subject of several recent analyst reports. Stifel Nicolaus set a $35.00 price objective on shares of Kornit Digital and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BidaskClub upgraded shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 27th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of Kornit Digital in a research note on Tuesday, June 18th. Finally, TheStreet upgraded shares of Kornit Digital from a “c+” rating to a “b” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kornit Digital has an average rating of “Buy” and a consensus price target of $28.00.

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. 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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