Cowen Prime Services LLC cut its stake in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,794 shares of the industrial products company’s stock after selling 5,150 shares during the quarter. Cowen Prime Services LLC owned 0.17% of Kornit Digital worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Wells Fargo & Company MN lifted its position in Kornit Digital by 65.5% during the first quarter. Wells Fargo & Company MN now owns 14,146 shares of the industrial products company’s stock valued at $182,000 after purchasing an additional 5,600 shares during the last quarter. Northern Trust Corp lifted its position in Kornit Digital by 6.3% during the first quarter. Northern Trust Corp now owns 96,463 shares of the industrial products company’s stock valued at $1,245,000 after purchasing an additional 5,754 shares during the last quarter. West Chester Capital Advisors Inc. bought a new stake in Kornit Digital during the second quarter valued at approximately $178,000. Engineers Gate Manager LP bought a new stake in Kornit Digital during the second quarter valued at approximately $201,000. Finally, Thompson Investment Management Inc. bought a new stake in Kornit Digital during the second quarter valued at approximately $254,000. Institutional investors and hedge funds own 94.63% of the company’s stock.
KRNT has been the subject of several research analyst reports. ValuEngine upgraded shares of Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Barclays reiterated a “buy” rating and set a $22.00 target price on shares of Kornit Digital in a research report on Wednesday, August 8th. Needham & Company LLC lifted their target price on shares of Kornit Digital from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. BidaskClub raised shares of Kornit Digital from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Finally, Stifel Nicolaus lifted their price target on shares of Kornit Digital from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $22.60.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $35.90 million for the quarter, compared to the consensus estimate of $35.26 million. Kornit Digital had a net margin of 1.47% and a return on equity of 2.69%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. As a group, sell-side analysts predict that Kornit Digital Ltd will post 0.23 EPS for the current fiscal year.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.
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