Thompson Investment Management Inc. Has $9.51 Million Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Thompson Investment Management Inc. cut its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 323,805 shares of the industrial products company’s stock after selling 2,086 shares during the period. Kornit Digital makes up 1.5% of Thompson Investment Management Inc.’s portfolio, making the stock its 10th largest position. Thompson Investment Management Inc. owned 0.65% of Kornit Digital worth $9,510,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in Kornit Digital by 4.5% in the first quarter. American International Group Inc. now owns 6,791 shares of the industrial products company’s stock worth $562,000 after buying an additional 291 shares during the period. Prudential Financial Inc. lifted its holdings in Kornit Digital by 21.2% in the first quarter. Prudential Financial Inc. now owns 3,555 shares of the industrial products company’s stock worth $294,000 after buying an additional 623 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Kornit Digital by 3.6% in the first quarter. Thrivent Financial for Lutherans now owns 19,406 shares of the industrial products company’s stock worth $376,000 after buying an additional 669 shares during the period. JPMorgan Chase & Co. lifted its holdings in Kornit Digital by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 24,533 shares of the industrial products company’s stock worth $777,000 after buying an additional 691 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Kornit Digital by 26.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,636 shares of the industrial products company’s stock worth $84,000 after buying an additional 751 shares during the period. 93.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KRNT has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Kornit Digital in a research note on Thursday, August 17th. They set a “sell” rating for the company. Needham & Company LLC decreased their target price on shares of Kornit Digital from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. Finally, Morgan Stanley raised shares of Kornit Digital from an “equal weight” rating to an “overweight” rating and set a $29.00 price target for the company in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.60.

Kornit Digital Trading Down 1.7 %

KRNT stock traded down $0.35 on Friday, hitting $20.85. The company had a trading volume of 186,149 shares, compared to its average volume of 349,777. Kornit Digital Ltd. has a 12-month low of $16.19 and a 12-month high of $31.94. The stock’s 50-day simple moving average is $25.33 and its 200 day simple moving average is $23.28. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -11.85 and a beta of 1.76.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, August 9th. The industrial products company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. Kornit Digital had a negative net margin of 37.45% and a negative return on equity of 7.02%. The company had revenue of $56.20 million for the quarter, compared to analysts’ expectations of $56.88 million.

Kornit Digital 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. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.