Kornit Digital Ltd. $KRNT Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 185.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,292,586 shares of the industrial products company’s stock after buying an additional 839,336 shares during the quarter. Assenagon Asset Management S.A. owned 2.89% of Kornit Digital worth $18,949,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Kornit Digital in the second quarter worth approximately $31,000. State of Tennessee Department of Treasury acquired a new stake in Kornit Digital in the second quarter valued at $35,000. CIBC Private Wealth Group LLC raised its stake in Kornit Digital by 1,359.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock valued at $26,000 after buying an additional 1,795 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Kornit Digital during the 3rd quarter worth about $27,000. Finally, Headlands Technologies LLC lifted its holdings in Kornit Digital by 84.5% during the 2nd quarter. Headlands Technologies LLC now owns 9,807 shares of the industrial products company’s stock worth $195,000 after buying an additional 4,491 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Wall Street Zen raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Needham & Company LLC boosted their target price on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Morgan Stanley upped their price target on Kornit Digital from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.00.

Kornit Digital Price Performance

Shares of KRNT stock opened at $16.06 on Friday. The business’s fifty day moving average price is $15.82 and its 200 day moving average price is $15.07. Kornit Digital Ltd. has a 1-year low of $11.93 and a 1-year high of $22.06. The firm has a market capitalization of $719.33 million, a PE ratio of -41.18 and a beta of 1.75.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The company had revenue of $48.54 million for the quarter, compared to analyst estimates of $46.67 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Kornit Digital Ltd. will post -0.28 earnings per share for the current fiscal year.

Kornit Digital Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.