Barclays PLC Purchases 11,544 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Barclays PLC lifted its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 130.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,420 shares of the industrial products company’s stock after buying an additional 11,544 shares during the period. Barclays PLC’s holdings in Kornit Digital were worth $527,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KRNT. Tectonic Advisors LLC acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at about $705,000. Loomis Sayles & Co. L P bought a new position in shares of Kornit Digital during the third quarter worth about $8,887,000. Principal Financial Group Inc. bought a new stake in Kornit Digital in the 3rd quarter valued at approximately $934,000. Telemark Asset Management LLC acquired a new position in Kornit Digital during the 3rd quarter worth approximately $1,033,000. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of Kornit Digital by 5.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock worth $30,167,000 after acquiring an additional 111,971 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KRNT. Barclays raised their price objective on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Morgan Stanley raised their price target on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Cantor Fitzgerald initiated coverage on Kornit Digital in a research note on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective on the stock. Needham & Company LLC increased their price objective on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum boosted their target price on shares of Kornit Digital from $27.00 to $33.00 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.40.

Kornit Digital Trading Down 0.6 %

Shares of NASDAQ KRNT opened at $30.75 on Friday. The business’s 50 day moving average is $30.34 and its 200-day moving average is $23.03. The firm has a market cap of $1.46 billion, a P/E ratio of -34.94 and a beta of 2.01. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.28.

Kornit Digital (NASDAQ:KRNT) last posted 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. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The firm had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. During the same quarter last year, the business earned ($0.17) EPS. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. Analysts forecast that Kornit Digital Ltd. will post -0.22 EPS for the current year.

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.