JPMorgan Chase & Co. Purchases 1,284 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

JPMorgan Chase & Co. lifted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,779 shares of the industrial products company’s stock after purchasing an additional 1,284 shares during the period. JPMorgan Chase & Co. owned 0.05% of Kornit Digital worth $614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. LHM Inc. acquired a new position in Kornit Digital during the second quarter worth approximately $5,500,000. Loomis Sayles & Co. L P bought a new position in shares of Kornit Digital during the 3rd quarter worth approximately $8,887,000. Artemis Investment Management LLP acquired a new position in shares of Kornit Digital during the 3rd quarter worth approximately $6,962,000. Chicago Capital LLC lifted its holdings in Kornit Digital by 8.1% during the 3rd quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after purchasing an additional 231,659 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its holdings in Kornit Digital by 35.7% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company’s stock valued at $16,045,000 after purchasing an additional 163,543 shares during the last quarter. 92.76% of the stock is owned by institutional investors.

Kornit Digital Price Performance

Kornit Digital stock opened at $29.43 on Tuesday. The firm has a market cap of $1.40 billion, a PE ratio of -33.44 and a beta of 2.01. The stock’s fifty day moving average price is $31.18 and its two-hundred day moving average price is $24.89. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $34.28.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. Sell-side analysts expect that Kornit Digital Ltd. will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

KRNT has been the topic of several research analyst reports. Barclays increased their price objective on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Craig Hallum increased their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald assumed coverage on Kornit Digital in a report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. 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 report on Monday, December 16th. Finally, Needham & Company LLC lifted their price target on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Kornit Digital presently has an average rating of “Moderate Buy” and an average target price of $33.40.

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.