Trust Point Inc. Has $610,000 Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Trust Point Inc. increased its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,694 shares of the industrial products company’s stock after buying an additional 1,826 shares during the period. Trust Point Inc.’s holdings in Kornit Digital were worth $610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Kornit Digital by 26.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 3,633 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Kornit Digital during the third quarter worth $6,962,000. Chicago Capital LLC raised its holdings in Kornit Digital by 8.1% during the third quarter. Chicago Capital LLC now owns 3,089,263 shares of the industrial products company’s stock valued at $79,811,000 after buying an additional 231,659 shares in the last quarter. Signaturefd LLC lifted its position in shares of Kornit Digital by 69.7% in the third quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,390 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Kornit Digital by 238.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 90,282 shares of the industrial products company’s stock worth $2,332,000 after acquiring an additional 63,629 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Trading Up 1.2 %

KRNT opened at $29.20 on Wednesday. Kornit Digital Ltd. has a 1-year low of $13.59 and a 1-year high of $34.28. The business has a 50 day moving average of $30.90 and a 200-day moving average of $25.57. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -33.18 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The business’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. Equities analysts predict that Kornit Digital Ltd. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

KRNT has been the topic of a number of recent analyst reports. Morgan Stanley raised their price objective on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC boosted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald initiated coverage on shares of Kornit Digital in a report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. Finally, Craig Hallum lifted 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 equities research 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 presently has an average rating of “Moderate Buy” and an average price target of $33.40.

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.