ExodusPoint Capital Management LP Buys Shares of 30,446 Kornit Digital Ltd. (NASDAQ:KRNT)

ExodusPoint Capital Management LP bought a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT) during the fourth quarter, HoldingsChannel reports. The fund bought 30,446 shares of the industrial products company’s stock, valued at approximately $942,000.

A number of other large investors have also recently bought and sold shares of the stock. Riverbridge Partners LLC grew its holdings in Kornit Digital by 21.1% during 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 last quarter. Stephens Investment Management Group LLC grew its holdings in Kornit Digital by 4.4% during 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 last quarter. Loomis Sayles & Co. L P grew its holdings in 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 valued at $38,300,000 after buying an additional 893,463 shares during the last quarter. Artemis Investment Management LLP grew its holdings in Kornit Digital by 138.2% during 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 last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Kornit Digital by 421.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 470,674 shares of the industrial products company’s stock valued at $14,567,000 after buying an additional 380,392 shares during the last quarter. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Trading Down 6.5 %

Shares of KRNT opened at $17.92 on Friday. The firm has a market capitalization of $852.13 million, a P/E ratio of -51.20 and a beta of 2.08. The stock’s fifty day simple moving average is $22.85 and its 200 day simple moving average is $26.82. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KRNT shares. Needham & Company LLC reduced their price target on Kornit Digital from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley increased their price target on Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Cantor Fitzgerald raised Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kornit Digital has an average rating of “Moderate Buy” and an average target price of $32.80.

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.