Kornit Digital Ltd. (NASDAQ:KRNT) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 8.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,029 shares of the industrial products company’s stock after buying an additional 1,184 shares during the period. Bank of New York Mellon Corp’s holdings in Kornit Digital were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Stephens Investment Management Group LLC increased its stake in shares of 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 worth $28,092,000 after acquiring an additional 282,241 shares during the period. Moody National Bank Trust Division boosted its holdings in 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 purchasing an additional 3,162 shares during the last quarter. Silverberg Bernstein Capital Management LLC grew its position in Kornit Digital by 1.3% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 117,250 shares of the industrial products company’s stock worth $2,125,000 after purchasing an additional 1,550 shares during the period. Thompson Investment Management Inc. raised 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 valued at $9,482,000 after buying an additional 62,607 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Kornit Digital by 6.7% in the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock valued at $32,803,000 after buying an additional 114,372 shares during the period. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Stock Performance

NASDAQ KRNT opened at $25.18 on Friday. The firm has a market capitalization of $1.20 billion, a P/E ratio of -20.64 and a beta of 1.90. The stock’s fifty day moving average is $18.93 and its two-hundred day moving average is $16.85. Kornit Digital Ltd. has a fifty-two week low of $13.29 and a fifty-two week high of $25.36.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $48.62 million for the quarter, compared to analyst estimates of $50.24 million. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.28) EPS. As a group, sell-side analysts forecast that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley lifted their price objective on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, September 13th. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, 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.

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.