Kornit Digital Ltd. (NASDAQ:KRNT) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 70.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 383,252 shares of the industrial products company’s stock after selling 932,065 shares during the quarter. William Blair Investment Management LLC’s holdings in Kornit Digital were worth $11,862,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KRNT. Fifth Third Bancorp lifted its holdings in Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 393 shares during the period. US Bancorp DE boosted its holdings in Kornit Digital by 7.4% during the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock worth $257,000 after buying an additional 572 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Kornit Digital by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after buying an additional 625 shares during the period. Parkside Financial Bank & Trust increased its holdings in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after buying an additional 988 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Kornit Digital by 6.0% during the 4th quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company’s stock valued at $546,000 after acquiring an additional 1,000 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Kornit Digital Stock Performance

KRNT opened at $21.87 on Thursday. The firm has a 50 day moving average price of $26.74 and a 200 day moving average price of $27.19. The company has a market cap of $1.04 billion, a PE ratio of -62.49 and a beta of 2.12. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Analyst Ratings Changes

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

About Kornit Digital

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.