Loomis Sayles & Co. L P Acquires New Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Loomis Sayles & Co. L P acquired a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 343,990 shares of the industrial products company’s stock, valued at approximately $8,887,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of Kornit Digital during the second quarter valued at $40,000. Signaturefd LLC raised its stake in shares of Kornit Digital by 29.4% during 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. bought a new position in shares of Kornit Digital during the second quarter valued at $159,000. Bank of New York Mellon Corp raised its stake in shares of Kornit Digital by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 1,184 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Kornit Digital by 26.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 3,633 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Trading Down 2.2 %

NASDAQ:KRNT opened at $31.36 on Thursday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -35.64 and a beta of 1.93. The firm has a fifty day simple moving average of $26.66 and a two-hundred day simple moving average of $20.02. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $33.00.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $50.73 million during the quarter, compared to analysts’ expectations 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 company posted ($0.17) earnings per share. Equities analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Needham & Company LLC lifted their target price 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. 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 research note on Thursday, November 7th. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a research note on Tuesday. They set an “overweight” rating and a $39.00 target price for the company. Finally, Barclays lifted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.00.

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.