Pathstone Holdings LLC Sells 111,981 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Pathstone Holdings LLC trimmed its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 11.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 853,165 shares of the industrial products company’s stock after selling 111,981 shares during the quarter. Pathstone Holdings LLC owned 1.79% of Kornit Digital worth $22,042,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. LHM Inc. bought a new stake in Kornit Digital during the second quarter worth approximately $12,042,000. Chicago Capital LLC increased its position in shares of Kornit Digital by 14.9% during the 2nd quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company’s stock valued at $41,835,000 after purchasing an additional 370,962 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Kornit Digital during the 3rd quarter valued at approximately $6,962,000. Disciplined Growth Investors Inc. MN raised its holdings in Kornit Digital by 5.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,060,575 shares of the industrial products company’s stock valued at $30,167,000 after buying an additional 111,971 shares during the period. Finally, Roubaix Capital LLC bought a new stake in Kornit Digital in the third quarter worth $2,635,000. Institutional investors own 92.76% of the company’s stock.

Kornit Digital Price Performance

Shares of KRNT stock opened at $31.01 on Wednesday. The company has a market capitalization of $1.47 billion, a P/E ratio of -35.69 and a beta of 1.93. The company’s 50-day simple moving average is $25.47 and its two-hundred day simple moving average is $19.28. Kornit Digital Ltd. has a one year low of $13.59 and a one year high of $33.00.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company posted ($0.17) EPS. Kornit Digital’s revenue was down 14.3% on a year-over-year basis. On average, research analysts expect that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KRNT shares. StockNews.com upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley increased their price objective on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Needham & Company LLC raised their price objective 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. Barclays upped their target price 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. Finally, Craig Hallum raised their price target on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

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.