Millennium Management LLC lessened its position in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 65.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,033 shares of the industrial products company’s stock after selling 122,040 shares during the quarter. Millennium Management LLC owned approximately 0.18% of Kornit Digital worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Kornit Digital by 71.1% during the 3rd quarter. Legal & General Group Plc now owns 1,345 shares of the industrial products company’s stock worth $29,000 after buying an additional 559 shares during the period. ETF Managers Group LLC lifted its position in shares of Kornit Digital by 4.8% during the 4th quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock worth $577,000 after buying an additional 1,411 shares during the period. PRW Wealth Management LLC bought a new position in Kornit Digital in the 4th quarter valued at $38,000. Van ECK Associates Corp raised its position in Kornit Digital by 23.0% in the 4th quarter. Van ECK Associates Corp now owns 11,152 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 2,083 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Kornit Digital by 16.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 21,396 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 3,088 shares during the last quarter. 96.01% of the stock is currently owned by institutional investors.
Shares of KRNT stock traded up $0.20 on Wednesday, reaching $27.20. 159,258 shares of the stock were exchanged, compared to its average volume of 337,430. The company has a market cap of $947.11 million, a P/E ratio of 113.33 and a beta of 1.08. Kornit Digital Ltd has a one year low of $15.55 and a one year high of $29.63. The company has a quick ratio of 3.34, a current ratio of 2.94 and a debt-to-equity ratio of 0.06.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Monday, May 13th. The industrial products company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Kornit Digital had a return on equity of 4.27% and a net margin of 6.88%. The company had revenue of $38.20 million for the quarter, compared to analyst estimates of $37.97 million. During the same period last year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. As a group, equities research analysts anticipate that Kornit Digital Ltd will post 0.44 earnings per share for the current fiscal year.
Several equities analysts have issued reports on KRNT shares. Craig Hallum set a $25.00 price objective on Kornit Digital and gave the company a “buy” rating in a research report on Thursday, February 14th. BidaskClub upgraded Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Stifel Nicolaus lifted their price objective on Kornit Digital from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Needham & Company LLC lifted their price objective on Kornit Digital from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Zacks Investment Research upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $24.29.
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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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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