Thompson Investment Management Inc. Has $8.92 Million Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Thompson Investment Management Inc. cut its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 288,170 shares of the industrial products company’s stock after selling 235,619 shares during the period. Kornit Digital accounts for 1.3% of Thompson Investment Management Inc.’s holdings, making the stock its 21st largest position. Thompson Investment Management Inc.’s holdings in Kornit Digital were worth $8,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 393 shares during the last quarter. Signaturefd LLC raised its position in shares of Kornit Digital by 69.7% in the third quarter. Signaturefd LLC now owns 5,818 shares of the industrial products company’s stock valued at $150,000 after buying an additional 2,390 shares in the last quarter. Privium Fund Management B.V. raised its position in shares of Kornit Digital by 8.8% in the third quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock valued at $305,000 after buying an additional 950 shares in the last quarter. Trust Point Inc. raised its position in shares of Kornit Digital by 4.6% in the third quarter. Trust Point Inc. now owns 17,868 shares of the industrial products company’s stock valued at $462,000 after buying an additional 785 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Kornit Digital by 3.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock valued at $468,000 after buying an additional 625 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KRNT has been the subject of a number of analyst reports. Morgan Stanley lifted their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Cantor Fitzgerald assumed coverage on shares of Kornit Digital in a research report on Tuesday, November 26th. They set an “overweight” rating and a $39.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum boosted 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.40.

Kornit Digital Stock Down 1.4 %

KRNT stock opened at $28.97 on Friday. The company’s fifty day simple moving average is $30.76 and its 200 day simple moving average is $25.72. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.28. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -32.92 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The firm had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. Research analysts expect that Kornit Digital Ltd. will post -0.22 earnings per share for the current year.

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.