Yelin Lapidot Holdings Management Ltd. Cuts Position in Kornit Digital Ltd. $KRNT

Yelin Lapidot Holdings Management Ltd. reduced its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 53.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,028 shares of the industrial products company’s stock after selling 117,003 shares during the quarter. Yelin Lapidot Holdings Management Ltd. owned 0.23% of Kornit Digital worth $1,510,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Kornit Digital in the 2nd quarter worth approximately $31,000. State of Tennessee Department of Treasury purchased a new stake in shares of Kornit Digital during the second quarter valued at approximately $35,000. CIBC Private Wealth Group LLC lifted its position in shares of Kornit Digital by 1,359.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 1,795 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Kornit Digital during the third quarter worth $27,000. Finally, Headlands Technologies LLC boosted its stake in shares of Kornit Digital by 84.5% in the second quarter. Headlands Technologies LLC now owns 9,807 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 4,491 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Kornit Digital from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kornit Digital in a research report on Wednesday, March 25th. Finally, Needham & Company LLC boosted their price target on Kornit Digital from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.00.

Kornit Digital Stock Performance

KRNT stock opened at $16.06 on Monday. The firm has a 50 day simple moving average of $15.82 and a 200-day simple moving average of $15.08. The company has a market capitalization of $719.41 million, a P/E ratio of -41.18 and a beta of 1.76. Kornit Digital Ltd. has a twelve month low of $11.93 and a twelve month high of $22.06.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, May 13th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $48.54 million for the quarter, compared to analysts’ expectations of $46.67 million. Kornit Digital had a negative net margin of 7.93% and a negative return on equity of 1.15%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. On average, research analysts predict that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Kornit Digital Profile

Kornit Digital Ltd. (NASDAQ: KRNT) is a global technology company specializing in digital textile printing solutions. Headquartered in Rosh Ha’Ayin, Israel, Kornit develops and manufactures an integrated ecosystem of industrial inkjet printers, proprietary NeoPigment inks and pretreatment systems. Its product portfolio addresses a range of applications including direct-to-garment, direct-to-fabric, digital embellishment and hybrid manufacturing, enabling businesses to produce custom apparel, sportswear, fashion and home textiles on demand.

The company’s flagship offerings include the Avalanche and Atlas series for high-volume production, as well as the Storm and Helix lines designed for mid-to-large scale operations.