DnB Asset Management AS Cuts Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

DnB Asset Management AS reduced its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,392 shares of the industrial products company’s stock after selling 5,330 shares during the quarter. DnB Asset Management AS’s holdings in Kornit Digital were worth $1,838,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Loomis Sayles & Co. L P grew its stake in shares of Kornit Digital by 259.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after acquiring an additional 893,463 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Kornit Digital by 421.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock worth $14,567,000 after purchasing an additional 380,392 shares during the last quarter. Artemis Investment Management LLP grew its position in Kornit Digital by 138.2% in the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock worth $19,867,000 after purchasing an additional 372,443 shares in the last quarter. Riverbridge Partners LLC increased its stake in Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after buying an additional 335,713 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its position in shares of Kornit Digital by 35.7% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company’s stock worth $16,045,000 after buying an additional 163,543 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Stock Performance

Shares of KRNT opened at $18.93 on Wednesday. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The business has a 50-day moving average of $25.07 and a 200 day moving average of $27.28. The firm has a market cap of $900.16 million, a P/E ratio of -54.09 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 earnings per share 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%. As a group, research analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KRNT shares. Needham & Company LLC upped their target price on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley upped 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. Finally, Cantor Fitzgerald upgraded Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Kornit Digital presently has a consensus rating of “Moderate Buy” and a consensus price target 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.