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

Assenagon Asset Management S.A. boosted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 421.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 470,674 shares of the industrial products company’s stock after purchasing an additional 380,392 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Kornit Digital were worth $14,567,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in KRNT. Signaturefd LLC boosted its stake in shares of Kornit Digital by 69.7% during the 3rd quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 2,390 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $235,000 after purchasing an additional 1,184 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position 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 purchasing an additional 3,633 shares in the last quarter. Privium Fund Management B.V. grew its holdings in Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 950 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Kornit Digital by 22.7% in the second quarter. XTX Topco Ltd now owns 20,953 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 3,881 shares during the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kornit Digital Stock Performance

Shares of NASDAQ KRNT opened at $29.70 on Friday. The firm has a market cap of $1.41 billion, a P/E ratio of -33.75 and a beta of 2.01. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.28. The firm’s 50 day moving average price is $31.34 and its 200 day moving average price is $24.22.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating 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 business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. As a group, equities analysts predict that Kornit Digital Ltd. will post -0.22 EPS 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.