Avalon Trust Co Cuts Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Avalon Trust Co trimmed its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,085 shares of the industrial products company’s stock after selling 1,550 shares during the quarter. Avalon Trust Co’s holdings in Kornit Digital were worth $1,117,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in shares of Kornit Digital during the 3rd quarter valued at approximately $934,000. Loomis Sayles & Co. L P purchased a new position in shares of Kornit Digital during the 3rd quarter valued at approximately $8,887,000. Stephens Investment Management Group LLC increased its holdings in shares of Kornit Digital by 4.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after purchasing an additional 57,068 shares in the last quarter. Lisanti Capital Growth LLC increased its holdings in shares of Kornit Digital by 119.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 213,825 shares of the industrial products company’s stock valued at $6,618,000 after purchasing an additional 116,170 shares in the last quarter. Finally, Dudley & Shanley Inc. increased its holdings in shares of Kornit Digital by 25.3% during the 3rd quarter. Dudley & Shanley Inc. now owns 259,525 shares of the industrial products company’s stock valued at $6,705,000 after purchasing an additional 52,425 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Stock Up 4.1 %

Shares of KRNT opened at $22.67 on Friday. Kornit Digital Ltd. has a 52-week low of $13.59 and a 52-week high of $34.29. The firm’s fifty day moving average is $27.27 and its two-hundred day moving average is $27.13. The stock has a market cap of $1.08 billion, a PE ratio of -64.77 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, research analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

KRNT has been the topic of a number of research analyst reports. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. 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 note on Monday, December 16th. Finally, Needham & Company LLC lifted their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.00.

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.