Kornit Digital Ltd. (NASDAQ:KRNT) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 88.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 104,199 shares of the industrial products company’s stock after acquiring an additional 48,993 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Kornit Digital were worth $2,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. LHM Inc. bought a new stake in shares of Kornit Digital during the second quarter valued at approximately $12,042,000. Chicago Capital LLC raised its stake in Kornit Digital by 14.9% during the 2nd quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company’s stock valued at $41,835,000 after purchasing an additional 370,962 shares during the period. Loomis Sayles & Co. L P purchased a new stake in Kornit Digital in the 3rd quarter worth about $8,887,000. Artemis Investment Management LLP purchased a new position in Kornit Digital during the third quarter valued at approximately $6,962,000. Finally, Disciplined Growth Investors Inc. MN boosted its position in Kornit Digital by 5.7% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock valued at $30,167,000 after purchasing an additional 111,971 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KRNT shares. Morgan Stanley boosted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Cantor Fitzgerald assumed coverage on Kornit Digital in a research report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price objective for the company. Craig Hallum upped their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays raised their price target 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. Finally, Needham & Company LLC boosted their target price on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Kornit Digital Stock Down 1.2 %

NASDAQ KRNT opened at $32.10 on Friday. The business has a 50 day moving average price of $28.24 and a 200-day moving average price of $21.43. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -36.48 and a beta of 2.01. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $33.31.

Kornit Digital (NASDAQ:KRNT) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The company had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. During the same period in the previous year, the business posted ($0.17) EPS. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. On average, equities research analysts anticipate that Kornit Digital Ltd. will post -0.22 earnings per share for the current 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.