Schroder Investment Management Group Sells 114,137 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Schroder Investment Management Group reduced its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 11.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 875,868 shares of the industrial products company’s stock after selling 114,137 shares during the period. Schroder Investment Management Group’s holdings in Kornit Digital were worth $27,511,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in shares of Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 393 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after buying an additional 988 shares during the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Kornit Digital during the 4th quarter worth approximately $203,000. HighTower Advisors LLC purchased a new position in shares of Kornit Digital in the 4th quarter worth approximately $237,000. Finally, US Bancorp DE grew its holdings in shares of Kornit Digital by 7.4% in the fourth quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 572 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 commented on KRNT. Morgan Stanley lifted their price target on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Needham & Company LLC boosted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Two investment 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

Kornit Digital Trading Up 3.5 %

KRNT opened at $19.59 on Thursday. The company has a 50 day moving average of $24.86 and a 200 day moving average of $27.23. Kornit Digital Ltd. has a 12 month low of $13.59 and a 12 month high of $34.29. The company has a market cap of $931.54 million, a PE ratio of -55.97 and a beta of 2.08.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly 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 net margin of 8.24% and a negative return on equity of 1.51%. Research analysts forecast that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal 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.