Loomis Sayles & Co. L P Purchases New Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Loomis Sayles & Co. L P purchased a new stake in Kornit Digital Ltd. (NASDAQ:KRNT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 343,990 shares of the industrial products company’s stock, valued at approximately $8,887,000. Loomis Sayles & Co. L P owned about 0.72% of Kornit Digital as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC acquired a new position in Kornit Digital in the 2nd quarter valued at about $40,000. Signaturefd LLC grew its stake in Kornit Digital by 29.4% in the 2nd quarter. Signaturefd LLC now owns 3,428 shares of the industrial products company’s stock valued at $50,000 after buying an additional 779 shares during the last quarter. Privium Fund Management B.V. acquired a new position in Kornit Digital in the 2nd quarter valued at about $159,000. Bank of New York Mellon Corp grew its stake in Kornit Digital by 8.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,029 shares of the industrial products company’s stock valued at $235,000 after buying an additional 1,184 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in Kornit Digital by 26.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,486 shares of the industrial products company’s stock valued at $256,000 after buying an additional 3,633 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KRNT. Craig Hallum upped their price target on shares of Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Kornit Digital in a research report on Tuesday. They set an “overweight” rating and a $39.00 target price on the stock. Barclays increased their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Morgan Stanley increased their target price on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Needham & Company LLC increased their target price on shares of Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kornit Digital has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Kornit Digital Trading Down 2.2 %

NASDAQ KRNT opened at $31.36 on Thursday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -35.64 and a beta of 1.93. The firm’s 50 day simple moving average is $26.66 and its 200 day simple moving average is $20.02. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $33.00.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business had revenue of $50.73 million for the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. On average, equities research analysts forecast that Kornit Digital Ltd. will post -0.2 earnings per share for the current 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.