Bank of New York Mellon Corp Decreases Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Bank of New York Mellon Corp lessened its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 14.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,398 shares of the industrial products company’s stock after selling 2,086 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kornit Digital were worth $384,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its stake in shares of Kornit Digital by 6.0% during the fourth quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 1,000 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Kornit Digital by 64.7% in the 4th quarter. Principal Financial Group Inc. now owns 59,584 shares of the industrial products company’s stock worth $1,844,000 after buying an additional 23,416 shares during the last quarter. Legato Capital Management LLC increased its stake in Kornit Digital by 307.7% during the 4th quarter. Legato Capital Management LLC now owns 156,358 shares of the industrial products company’s stock worth $4,839,000 after buying an additional 118,010 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Kornit Digital by 4.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after acquiring an additional 57,068 shares during the last quarter. Finally, Trust Point Inc. lifted its position in shares of Kornit Digital by 10.2% in the fourth quarter. Trust Point Inc. now owns 19,694 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 1,826 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on KRNT shares. Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Needham & Company LLC upped their target price on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley raised their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Kornit Digital Stock Down 2.9 %

Shares of NASDAQ:KRNT opened at $19.50 on Friday. Kornit Digital Ltd. has a 52-week low of $13.59 and a 52-week high of $34.29. The business has a fifty day moving average of $25.51 and a two-hundred day moving average of $27.27. The stock has a market cap of $927.26 million, a P/E ratio of -55.71 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. On average, equities analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

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.