DekaBank Deutsche Girozentrale Purchases New Position in Kornit Digital Ltd (KRNT)

DekaBank Deutsche Girozentrale purchased a new stake in Kornit Digital Ltd (NASDAQ:KRNT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,000 shares of the industrial products company’s stock, valued at approximately $450,000. DekaBank Deutsche Girozentrale owned approximately 0.10% of Kornit Digital as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KRNT. American Capital Management Inc. lifted its position in shares of Kornit Digital by 80.1% in the fourth quarter. American Capital Management Inc. now owns 1,967,532 shares of the industrial products company’s stock valued at $31,776,000 after buying an additional 874,944 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Kornit Digital by 33.8% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,818,717 shares of the industrial products company’s stock valued at $23,461,000 after buying an additional 459,452 shares during the last quarter. Senvest Management LLC lifted its position in shares of Kornit Digital by 16.8% in the fourth quarter. Senvest Management LLC now owns 1,530,177 shares of the industrial products company’s stock valued at $24,712,000 after buying an additional 220,000 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Kornit Digital by 5.0% in the fourth quarter. Schroder Investment Management Group now owns 856,945 shares of the industrial products company’s stock valued at $13,840,000 after buying an additional 40,919 shares during the last quarter. Finally, Meitav Dash Investments Ltd. acquired a new stake in shares of Kornit Digital in the fourth quarter valued at approximately $12,978,000. Hedge funds and other institutional investors own 92.27% of the company’s stock.

A number of analysts have recently issued reports on KRNT shares. Needham & Company LLC cut their price objective on Kornit Digital from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Citigroup raised Kornit Digital from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, January 23rd. TheStreet cut Kornit Digital from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, BidaskClub raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $19.67.

KRNT opened at $16.15 on Tuesday. The company has a market capitalization of $567.29 million, a PE ratio of 137.92, a price-to-earnings-growth ratio of 1.65 and a beta of 0.22. Kornit Digital Ltd has a 12-month low of $11.70 and a 12-month high of $21.80.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Tuesday, May 8th. The industrial products company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. The business had revenue of $31.10 million during the quarter, compared to analysts’ expectations of $29.42 million. Kornit Digital had a return on equity of 2.54% and a net margin of 0.24%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS. sell-side analysts anticipate that Kornit Digital Ltd will post 0.25 EPS for the current year.

About Kornit Digital

Kornit Digital Ltd. designs, develops, and markets digital printing solutions for printed textile industry. It offers direct-to-garment printers from smaller commercial operators to mass producers; NeoPigment ink and other consumables; Vulcan, a digital substitution for carousel screen printing; Allegro roll to roll printers; QuickP Designer software; and value added services, such as maintenance and support, and professional services.

Institutional Ownership by Quarter for Kornit Digital (NASDAQ:KRNT)

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