Barclays PLC Buys 11,544 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Barclays PLC grew its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 130.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,420 shares of the industrial products company’s stock after purchasing an additional 11,544 shares during the quarter. Barclays PLC’s holdings in Kornit Digital were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in Kornit Digital in the second quarter worth $40,000. Signaturefd LLC raised its stake in shares of Kornit Digital by 29.4% during the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 779 shares during the period. Privium Fund Management B.V. boosted its holdings in shares of Kornit Digital by 8.8% in the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock worth $305,000 after buying an additional 950 shares during the last quarter. Bank of New York Mellon Corp grew its position in Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after buying an additional 1,184 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Kornit Digital by 26.2% during the second 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 during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KRNT shares. Needham & Company LLC raised their price target on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays raised 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. Cantor Fitzgerald began coverage on Kornit Digital in a research report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price target on the stock. Morgan Stanley increased their price target on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Craig Hallum boosted their price objective on Kornit Digital from $27.00 to $33.00 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.40.

Kornit Digital Price Performance

Shares of Kornit Digital stock opened at $30.75 on Friday. The stock has a market capitalization of $1.46 billion, a P/E ratio of -34.94 and a beta of 2.01. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $34.28. The business’s 50 day simple moving average is $30.34 and its two-hundred day simple moving average is $23.03.

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