Swiss National Bank Boosts Stock Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Swiss National Bank lifted its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT – Get Rating) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,800 shares of the industrial products company’s stock after acquiring an additional 2,700 shares during the quarter. Swiss National Bank’s holdings in Kornit Digital were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Eagle Global Advisors LLC grew its stake in shares of Kornit Digital by 30.0% during the fourth quarter. Eagle Global Advisors LLC now owns 13,000 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 3,000 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Kornit Digital by 1.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 62,443 shares of the industrial products company’s stock worth $1,434,000 after purchasing an additional 948 shares in the last quarter. Compass Financial Advisors LLC acquired a new position in shares of Kornit Digital during the fourth quarter worth $265,000. Y.D. More Investments Ltd acquired a new position in shares of Kornit Digital during the fourth quarter worth $3,655,000. Finally, Meitav Dash Investments Ltd. grew its stake in shares of Kornit Digital by 2.0% during the fourth quarter. Meitav Dash Investments Ltd. now owns 1,650,277 shares of the industrial products company’s stock worth $36,476,000 after purchasing an additional 32,527 shares in the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Kornit Digital to a “sell” rating in a research note on Thursday, May 11th. Needham & Company LLC decreased their price objective on shares of Kornit Digital from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, February 13th. Citigroup decreased their price objective on shares of Kornit Digital from $42.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Finally, Barclays downgraded shares of Kornit Digital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $34.00 to $28.00 in a research note on Wednesday, February 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.50.

Kornit Digital Stock Performance

Shares of KRNT opened at $23.37 on Wednesday. Kornit Digital Ltd. has a fifty-two week low of $16.19 and a fifty-two week high of $44.37. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -12.56 and a beta of 1.68. The firm has a 50-day simple moving average of $19.15 and a 200-day simple moving average of $22.13.

Kornit Digital (NASDAQ:KRNT – Get Rating) last announced its earnings results on Wednesday, May 10th. The industrial products company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.06. Kornit Digital had a negative net margin of 39.32% and a negative return on equity of 7.68%. The business had revenue of $47.78 million during the quarter, compared to the consensus estimate of $49.70 million. Equities research analysts forecast that Kornit Digital Ltd. will post -0.99 EPS for the current year.

About Kornit Digital

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Kornit Digital Ltd. is engaged in the development, designing, manufacture, and marketing of industrial and commercial printing solutions for the garment, apparel, and textile industries. It offers printing solutions for apparel, polyester, sportswear, beachwear, accessories, paradigm shirt, textiles, curtains, cushions and couches.