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

William Blair Investment Management LLC lowered its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 70.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,252 shares of the industrial products company’s stock after selling 932,065 shares during the period. William Blair Investment Management LLC owned 0.81% of Kornit Digital worth $11,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in Kornit Digital in the fourth quarter valued at approximately $310,000. Telemark Asset Management LLC boosted its holdings in shares of Kornit Digital by 400.0% in the 4th quarter. Telemark Asset Management LLC now owns 200,000 shares of the industrial products company’s stock valued at $6,190,000 after buying an additional 160,000 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Kornit Digital in the 4th quarter valued at $237,000. Lisanti Capital Growth LLC boosted its stake in Kornit Digital by 119.0% in the fourth quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock valued at $6,618,000 after acquiring an additional 116,170 shares in the last quarter. Finally, LHM Inc. boosted its stake in Kornit Digital by 12.3% in the fourth quarter. LHM Inc. now owns 453,964 shares of the industrial products company’s stock valued at $14,050,000 after acquiring an additional 49,755 shares in the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Analyst Ratings Changes

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

Kornit Digital Stock Performance

Shares of KRNT opened at $21.87 on Thursday. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29. The firm has a 50-day simple moving average of $26.74 and a 200-day simple moving average of $27.19. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -62.49 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Kornit Digital 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.