Kornit Digital Ltd. (NASDAQ:KRNT) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 238.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,282 shares of the industrial products company’s stock after acquiring an additional 63,629 shares during the period. Assenagon Asset Management S.A.’s holdings in Kornit Digital were worth $2,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Capital LLC raised its position in shares of Kornit Digital by 8.1% during the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after acquiring an additional 231,659 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in Kornit Digital by 5.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock worth $30,167,000 after buying an additional 111,971 shares during the period. William Blair Investment Management LLC increased its position in Kornit Digital by 6.0% in the second quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company’s stock worth $14,462,000 after buying an additional 56,157 shares during the period. LHM Inc. acquired a new stake in Kornit Digital in the second quarter worth $12,042,000. Finally, Thompson Investment Management Inc. increased its position in Kornit Digital by 11.9% in the second quarter. Thompson Investment Management Inc. now owns 585,332 shares of the industrial products company’s stock worth $8,569,000 after buying an additional 62,045 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Stock Down 3.1 %

NASDAQ:KRNT opened at $22.89 on Friday. The stock has a fifty day simple moving average of $22.88 and a 200 day simple moving average of $18.07. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -19.37 and a beta of 1.92. Kornit Digital Ltd. has a 1-year low of $13.51 and a 1-year high of $26.64.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays increased their target price on Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Craig Hallum increased their target price on Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley increased their price target on Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $27.00 price target on shares of Kornit Digital in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Kornit Digital has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

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.