Stephens Investment Management Group LLC Has $41.55 Million Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Stephens Investment Management Group LLC increased its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,342,321 shares of the industrial products company’s stock after purchasing an additional 57,068 shares during the period. Stephens Investment Management Group LLC’s holdings in Kornit Digital were worth $41,545,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in shares of Kornit Digital during the 3rd quarter worth approximately $934,000. Tectonic Advisors LLC acquired a new stake in Kornit Digital in the third quarter worth $705,000. Loomis Sayles & Co. L P bought a new stake in Kornit Digital in the third quarter valued at $8,887,000. Dudley & Shanley Inc. raised its holdings in shares of Kornit Digital by 25.3% during 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. Finally, Telemark Asset Management LLC bought a new position in shares of Kornit Digital during the 3rd quarter worth about $1,033,000. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Trading Down 1.4 %

Shares of Kornit Digital stock opened at $28.97 on Friday. The company has a market capitalization of $1.38 billion, a P/E ratio of -32.92 and a beta of 2.02. The stock has a fifty day simple moving average of $30.76 and a 200 day simple moving average of $25.72. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.28.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate 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 company had revenue of $50.73 million during the quarter, compared to the consensus estimate of $50.44 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, analysts predict that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Analyst Ratings Changes

KRNT has been the subject of a number of research analyst reports. Needham & Company LLC boosted their target price on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley boosted their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Craig Hallum increased their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a research note on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.40.

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.