William Blair Investment Management LLC Purchases 56,157 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

William Blair Investment Management LLC grew its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 987,863 shares of the industrial products company’s stock after acquiring an additional 56,157 shares during the period. William Blair Investment Management LLC owned about 2.07% of Kornit Digital worth $14,462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in Kornit Digital by 5,353.7% in the 4th quarter. BNP Paribas Financial Markets now owns 73,788 shares of the industrial products company’s stock valued at $1,414,000 after purchasing an additional 72,435 shares during the last quarter. Stephens Investment Management Group LLC raised its stake in Kornit Digital by 23.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,466,159 shares of the industrial products company’s stock valued at $28,092,000 after buying an additional 282,241 shares during the period. Moody National Bank Trust Division lifted its position in shares of Kornit Digital by 7.9% in the first quarter. Moody National Bank Trust Division now owns 42,981 shares of the industrial products company’s stock valued at $779,000 after buying an additional 3,162 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its position in shares of Kornit Digital by 1.3% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock valued at $2,125,000 after buying an additional 1,550 shares during the last quarter. Finally, Thompson Investment Management Inc. boosted its stake in shares of Kornit Digital by 13.6% during the 1st quarter. Thompson Investment Management Inc. now owns 523,287 shares of the industrial products company’s stock worth $9,482,000 after acquiring an additional 62,607 shares during the period. Institutional investors own 92.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KRNT shares. Needham & Company LLC restated a “buy” rating and issued a $27.00 price target on shares of Kornit Digital in a research note on Thursday, September 12th. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum raised their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley upped their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday.

Kornit Digital Price Performance

KRNT opened at $22.71 on Tuesday. The business has a fifty day simple moving average of $17.51 and a 200 day simple moving average of $16.47. Kornit Digital Ltd. has a 1 year low of $13.29 and a 1 year high of $24.08. The company has a market capitalization of $1.08 billion, a PE ratio of -18.61 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The company had revenue of $48.62 million during the quarter, compared to analysts’ expectations of $50.24 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. Kornit Digital’s quarterly revenue was down 13.5% on a year-over-year basis. Equities analysts anticipate that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

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 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.