State Street Corp Sells 24,276 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

State Street Corp decreased its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.1% during the third quarter, Holdings Channel reports. The fund owned 565,849 shares of the industrial products company’s stock after selling 24,276 shares during the period. State Street Corp’s holdings in Kornit Digital were worth $14,619,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at about $40,000. Signaturefd LLC grew its position in shares of Kornit Digital by 29.4% during the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares in the last quarter. Privium Fund Management B.V. bought a new position in shares of Kornit Digital during the second quarter worth $159,000. Bank of New York Mellon Corp lifted its position in shares of Kornit Digital by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after buying an additional 1,184 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Kornit Digital by 26.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock worth $256,000 after buying an additional 3,633 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Stock Down 0.5 %

Shares of NASDAQ:KRNT opened at $31.78 on Wednesday. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.28. The business has a fifty day simple moving average of $29.20 and a 200-day simple moving average of $22.23. The company has a market cap of $1.51 billion, a P/E ratio of -36.11 and a beta of 2.01.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) earnings per share. Sell-side analysts expect that Kornit Digital Ltd. will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KRNT. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They issued an “overweight” rating and a $39.00 price target on the stock. Craig Hallum boosted their target price on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Barclays raised their price target on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC upped their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.40.

Kornit Digital Company 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.