Artisan Partners Limited Partnership Sells 156,933 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Artisan Partners Limited Partnership cut its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 4.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,332,849 shares of the industrial products company’s stock after selling 156,933 shares during the period. Artisan Partners Limited Partnership owned 0.07% of Kornit Digital worth $103,152,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KRNT. Fifth Third Bancorp lifted its position in shares of Kornit Digital by 23.4% during the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 393 shares in the last quarter. US Bancorp DE increased its stake in Kornit Digital by 7.4% in the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after buying an additional 572 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Kornit Digital by 3.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after buying an additional 625 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Kornit Digital by 8.5% in the 4th quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company’s stock worth $344,000 after buying an additional 874 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 988 shares in the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC lifted their price target on Kornit Digital from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald raised shares of Kornit Digital to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley increased their price target on shares of Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Kornit Digital Price Performance

Shares of KRNT opened at $20.09 on Friday. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29. The stock’s fifty day moving average price is $25.72 and its two-hundred day moving average price is $27.26. The firm has a market cap of $955.32 million, a PE ratio of -57.40 and a beta of 2.12.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.14). Kornit Digital had a negative net margin of 8.24% and a negative return on equity of 1.51%. Sell-side analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current fiscal 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.