State Street Corp Sells 24,276 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

State Street Corp trimmed its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 565,849 shares of the industrial products company’s stock after selling 24,276 shares during the quarter. State Street Corp owned 1.19% of Kornit Digital worth $14,619,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC bought a new position in shares of Kornit Digital in the 2nd quarter valued at about $40,000. Signaturefd LLC raised its holdings in shares of Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 779 shares during the period. Privium Fund Management B.V. acquired a new stake in Kornit Digital in the 2nd quarter valued at about $159,000. Bank of New York Mellon Corp grew its holdings in Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after purchasing an additional 1,184 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its position in Kornit Digital by 26.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock worth $256,000 after buying an additional 3,633 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Down 0.5 %

Shares of Kornit Digital stock opened at $31.78 on Wednesday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -36.11 and a beta of 2.01. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.28. The company’s fifty day moving average is $29.20 and its 200 day moving average is $22.23.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. As a group, equities analysts anticipate that Kornit Digital Ltd. will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KRNT. Morgan Stanley boosted their target price on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Craig Hallum upped their price objective 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. Barclays raised their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Needham & Company LLC upped their price target on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.40.

About Kornit Digital

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.