Nicholas Investment Partners LP Boosts Stake in Kornit Digital Ltd. (NASDAQ:KRNT)

Nicholas Investment Partners LP raised its stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 43.1% during the 4th quarter, Holdings Channel reports. The fund owned 385,082 shares of the industrial products company’s stock after purchasing an additional 115,979 shares during the period. Kornit Digital comprises approximately 1.0% of Nicholas Investment Partners LP’s holdings, making the stock its 23rd largest position. Nicholas Investment Partners LP’s holdings in Kornit Digital were worth $11,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in KRNT. Loomis Sayles & Co. L P lifted its stake in shares of Kornit Digital by 259.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,237,453 shares of the industrial products company’s stock worth $38,300,000 after purchasing an additional 893,463 shares during the last quarter. AQR Capital Management LLC bought a new position in Kornit Digital in the fourth quarter worth about $14,769,000. Assenagon Asset Management S.A. raised its holdings in Kornit Digital by 421.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock worth $14,567,000 after purchasing an additional 380,392 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Kornit Digital by 138.2% during the fourth 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 last quarter. Finally, Hood River Capital Management LLC boosted its holdings in shares of Kornit Digital by 47.2% in the 4th quarter. Hood River Capital Management LLC now owns 1,099,725 shares of the industrial products company’s stock valued at $34,036,000 after buying an additional 352,648 shares in the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KRNT. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Needham & Company LLC lowered their price objective on Kornit Digital from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Kornit Digital Stock Down 0.3%

KRNT stock opened at $19.25 on Wednesday. The firm has a 50 day moving average of $19.35 and a 200 day moving average of $25.91. The stock has a market capitalization of $915.38 million, a PE ratio of -55.00 and a beta of 2.00. Kornit Digital Ltd. has a 52 week low of $13.59 and a 52 week high of $34.29.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. On average, equities research analysts expect that Kornit Digital Ltd. will post -0.2 earnings per share for the current 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.