Summit Creek Advisors LLC raised its position in Kornit Digital Ltd (NASDAQ:KRNT) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 517,120 shares of the industrial products company’s stock after buying an additional 67,840 shares during the quarter. Kornit Digital comprises about 2.2% of Summit Creek Advisors LLC’s portfolio, making the stock its 20th largest position. Summit Creek Advisors LLC owned about 1.47% of Kornit Digital worth $12,307,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Kornit Digital by 71.1% in the 3rd quarter. Legal & General Group Plc now owns 1,345 shares of the industrial products company’s stock valued at $29,000 after buying an additional 559 shares during the period. ETF Managers Group LLC increased its holdings in Kornit Digital by 4.8% in the 4th quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock valued at $577,000 after buying an additional 1,411 shares during the period. PRW Wealth Management LLC acquired a new stake in shares of Kornit Digital in the 4th quarter valued at approximately $38,000. Van ECK Associates Corp boosted its stake in shares of Kornit Digital by 23.0% in the 4th quarter. Van ECK Associates Corp now owns 11,152 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 2,083 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Kornit Digital by 16.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 21,396 shares of the industrial products company’s stock valued at $469,000 after purchasing an additional 3,088 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KRNT traded up $0.18 during mid-day trading on Monday, reaching $27.79. The company had a trading volume of 1,770 shares, compared to its average volume of 307,739. Kornit Digital Ltd has a 1-year low of $13.05 and a 1-year high of $28.24. The company has a market cap of $974.67 million, a P/E ratio of 116.04 and a beta of 0.98.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, February 12th. The industrial products company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Kornit Digital had a net margin of 8.73% and a return on equity of 5.09%. The company had revenue of $37.80 million during the quarter, compared to analyst estimates of $38.11 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities analysts predict that Kornit Digital Ltd will post 0.44 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on KRNT shares. ValuEngine downgraded shares of Kornit Digital from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 21st. BidaskClub upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Zacks Investment Research upgraded shares of Kornit Digital from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, January 15th. Finally, Craig Hallum set a $25.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $24.29.
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Kornit Digital Company Profile
Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.
See Also: Initial Public Offering (IPO)
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