US Bancorp DE Increases Stock Position in Kornit Digital Ltd. (NASDAQ:KRNT)

US Bancorp DE boosted its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,294 shares of the industrial products company’s stock after purchasing an additional 572 shares during the quarter. US Bancorp DE’s holdings in Kornit Digital were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp raised its stake in Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 393 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Kornit Digital by 35.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 988 shares in the last quarter. Handelsbanken Fonder AB raised 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 acquiring an additional 1,000 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Kornit Digital by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after acquiring an additional 625 shares in the last quarter. Finally, Trust Point Inc. raised its stake in shares of Kornit Digital by 10.2% during the fourth quarter. Trust Point Inc. now owns 19,694 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 1,826 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on KRNT. Morgan Stanley lifted 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. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC lifted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Stock Performance

Shares of Kornit Digital stock opened at $22.67 on Friday. Kornit Digital Ltd. has a 52-week low of $13.59 and a 52-week high of $34.29. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -64.77 and a beta of 2.12. The company’s 50 day moving average price is $27.27 and its 200-day moving average price is $27.08.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results 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%. As a group, equities research analysts forecast that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

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 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.