Oppenheimer Asset Management Inc. Has $996,000 Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Oppenheimer Asset Management Inc. cut its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,537 shares of the industrial products company’s stock after selling 1,101 shares during the period. Oppenheimer Asset Management Inc. owned 0.08% of Kornit Digital worth $996,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KRNT. LHM Inc. acquired a new stake in shares of Kornit Digital in the 2nd quarter valued at about $12,042,000. Chicago Capital LLC grew its stake in shares of Kornit Digital by 14.9% in 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 buying an additional 370,962 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Kornit Digital in the 3rd quarter valued at about $6,962,000. Disciplined Growth Investors Inc. MN grew its stake in shares of Kornit Digital by 5.7% in 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 acquired a new position in Kornit Digital during the 3rd quarter valued at about $2,635,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

Kornit Digital Stock Down 0.2 %

Kornit Digital stock opened at $30.97 on Tuesday. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $33.00. The company’s 50 day moving average price is $25.22 and its two-hundred day moving average price is $19.17. The stock has a market cap of $1.47 billion, a P/E ratio of -35.26 and a beta of 1.93.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The firm had revenue of $50.73 million for the quarter, compared to analysts’ expectations of $50.44 million. During the same quarter last year, the firm earned ($0.17) EPS. The company’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Kornit Digital Ltd. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

KRNT has been the subject of a number of analyst reports. Barclays lifted their price target 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. Morgan Stanley lifted their price target on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. StockNews.com upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Needham & Company LLC lifted their price target on Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their price target on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Kornit Digital Company 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.