Frank Rimerman Advisors LLC Makes New $310,000 Investment in Kornit Digital Ltd. (NASDAQ:KRNT)

Frank Rimerman Advisors LLC acquired a new position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,000 shares of the industrial products company’s stock, valued at approximately $310,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN lifted its position in Kornit Digital by 2.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,113,832 shares of the industrial products company’s stock worth $54,611,000 after acquiring an additional 53,257 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Kornit Digital by 21.1% in the 4th quarter. Riverbridge Partners LLC now owns 1,927,091 shares of the industrial products company’s stock valued at $59,643,000 after buying an additional 335,713 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of Kornit Digital by 4.4% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,342,321 shares of the industrial products company’s stock valued at $41,545,000 after buying an additional 57,068 shares during the period. Artemis Investment Management LLP lifted its holdings in shares of Kornit Digital by 138.2% in the 4th quarter. Artemis Investment Management LLP now owns 641,908 shares of the industrial products company’s stock valued at $19,867,000 after buying an additional 372,443 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of Kornit Digital by 35.7% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,043 shares of the industrial products company’s stock valued at $16,045,000 after buying an additional 163,543 shares during the period. 92.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Kornit Digital Trading Down 4.4 %

Shares of KRNT opened at $21.68 on Tuesday. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.29. The stock has a market cap of $1.03 billion, a P/E ratio of -61.94 and a beta of 2.12. The company has a 50-day moving average of $27.08 and a two-hundred day moving average of $27.21.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results 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%. As a group, analysts forecast that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.