Frank Rimerman Advisors LLC Invests $310,000 in Kornit Digital Ltd. (NASDAQ:KRNT)

Frank Rimerman Advisors LLC bought a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the industrial products company’s stock, valued at approximately $310,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new position in Kornit Digital in the third quarter valued at $934,000. Lisanti Capital Growth LLC boosted its holdings in Kornit Digital by 119.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock valued at $6,618,000 after purchasing an additional 116,170 shares during the period. Loomis Sayles & Co. L P purchased a new position in Kornit Digital in the third quarter valued at $8,887,000. Stephens Investment Management Group LLC boosted its holdings in Kornit Digital by 4.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after purchasing an additional 57,068 shares during the period. Finally, Dudley & Shanley Inc. boosted its holdings in Kornit Digital by 25.3% in the third quarter. Dudley & Shanley Inc. now owns 259,525 shares of the industrial products company’s stock valued at $6,705,000 after purchasing an additional 52,425 shares during the period. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Kornit Digital Stock Performance

KRNT opened at $21.68 on Tuesday. The business’s 50-day simple moving average is $27.08 and its 200-day simple moving average is $27.21. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $34.29. The stock has a market capitalization of $1.03 billion, a P/E ratio of -61.94 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KRNT. Morgan Stanley lifted their target price on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Needham & Company LLC raised their price target on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

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.