Sei Investments Co. Acquires 1,214 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Sei Investments Co. boosted its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,464 shares of the industrial products company’s stock after acquiring an additional 1,214 shares during the quarter. Sei Investments Co. owned 0.43% of Kornit Digital worth $3,023,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Chicago Capital LLC grew its stake in shares of Kornit Digital by 14.9% in the second quarter. Chicago Capital LLC now owns 2,857,604 shares of the industrial products company’s stock worth $41,835,000 after purchasing an additional 370,962 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Kornit Digital by 6.7% during the 1st quarter. Wasatch Advisors LP now owns 1,810,302 shares of the industrial products company’s stock worth $32,803,000 after buying an additional 114,372 shares during the period. William Blair Investment Management LLC grew its position in shares of Kornit Digital by 6.0% in the 2nd quarter. William Blair Investment Management LLC now owns 987,863 shares of the industrial products company’s stock valued at $14,462,000 after buying an additional 56,157 shares during the last quarter. LHM Inc. acquired a new stake in shares of Kornit Digital in the second quarter valued at about $12,042,000. Finally, Thompson Investment Management Inc. raised its position in shares of Kornit Digital by 11.9% during the second quarter. Thompson Investment Management Inc. now owns 585,332 shares of the industrial products company’s stock worth $8,569,000 after acquiring an additional 62,045 shares during the last quarter. 92.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday. Morgan Stanley lifted their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Craig Hallum upped their price target on shares of Kornit Digital from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $27.00 target price on shares of Kornit Digital in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Kornit Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Kornit Digital Stock Up 0.6 %

Shares of NASDAQ KRNT opened at $25.84 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of -21.18 and a beta of 1.90. The company’s fifty day simple moving average is $20.00 and its 200 day simple moving average is $17.13. Kornit Digital Ltd. has a 12-month low of $13.29 and a 12-month high of $26.57.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $48.62 million for the quarter, compared to analysts’ expectations of $50.24 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The business’s revenue was down 13.5% on a year-over-year basis. On average, equities analysts predict that Kornit Digital Ltd. will post -0.28 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.