Senvest Management LLC Has $116.05 Million Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Senvest Management LLC grew its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,492,060 shares of the industrial products company’s stock after buying an additional 10,900 shares during the quarter. Kornit Digital accounts for about 4.0% of Senvest Management LLC’s portfolio, making the stock its 11th largest holding. Senvest Management LLC owned about 0.09% of Kornit Digital worth $116,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KRNT. nVerses Capital LLC acquired a new position in shares of Kornit Digital during the 2nd quarter worth $40,000. Signaturefd LLC grew its position in Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 779 shares during the last quarter. Privium Fund Management B.V. acquired a new position in Kornit Digital during the second quarter worth about $159,000. Bank of New York Mellon Corp lifted its holdings in shares of Kornit Digital by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 1,184 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Kornit Digital by 26.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 3,633 shares in the last quarter. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Stock Performance

KRNT stock opened at $31.34 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of -35.61 and a beta of 1.93. The company has a fifty day moving average price of $26.16 and a 200-day moving average price of $19.65. Kornit Digital Ltd. has a 52-week low of $13.59 and a 52-week high of $33.00.

Kornit Digital (NASDAQ:KRNT) last announced its 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. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. The business had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. During the same period last year, the company earned ($0.17) EPS. Kornit Digital’s revenue for the quarter was down 14.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KRNT has been the subject of a number of research analyst reports. Craig Hallum upped their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Barclays increased their price target on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Needham & Company LLC boosted their price objective on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley increased their target price on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.