Kornit Digital Ltd. (NASDAQ:KRNT) Shares Sold by Axa S.A.

Axa S.A. reduced its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 16.5% during the second quarter, Holdings Channel.com reports. The fund owned 625,351 shares of the industrial products company’s stock after selling 123,374 shares during the quarter. Axa S.A.’s holdings in Kornit Digital were worth $9,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRNT. Headlands Technologies LLC grew its stake in shares of Kornit Digital by 97.9% in the 1st quarter. Headlands Technologies LLC now owns 2,076 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 1,027 shares during the last quarter. nVerses Capital LLC acquired a new position in Kornit Digital in the second quarter worth approximately $40,000. Signaturefd LLC increased its holdings in shares of Kornit Digital by 29.4% in the second quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after buying an additional 779 shares in the last quarter. Privium Fund Management B.V. acquired a new stake in shares of Kornit Digital during the 2nd quarter valued at $159,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Kornit Digital by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock worth $235,000 after acquiring an additional 1,184 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Trading Up 5.0 %

Shares of NASDAQ KRNT opened at $26.45 on Friday. Kornit Digital Ltd. has a one year low of $13.29 and a one year high of $26.51. The business has a 50-day moving average price of $18.93 and a two-hundred day moving average price of $16.85. The firm has a market capitalization of $1.26 billion, a PE ratio of -21.68 and a beta of 1.90.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Kornit Digital had a negative net margin of 23.63% and a negative return on equity of 3.22%. The firm had revenue of $48.62 million for the quarter, compared to the consensus estimate of $50.24 million. During the same period in the previous year, the firm posted ($0.28) earnings per share. The firm’s revenue was down 13.5% on a year-over-year basis. Research analysts anticipate that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KRNT. Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of Kornit Digital in a research report on Thursday, September 12th. StockNews.com raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Craig Hallum lifted their target price on shares of Kornit Digital from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley upped their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, September 13th.

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.