Kornit Digital Ltd. $KRNT Shares Purchased by Moody National Bank Trust Division

Moody National Bank Trust Division boosted its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 40.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 189,355 shares of the industrial products company’s stock after buying an additional 54,472 shares during the quarter. Moody National Bank Trust Division’s holdings in Kornit Digital were worth $2,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Kornit Digital during the second quarter worth about $31,000. State of Tennessee Department of Treasury purchased a new position in Kornit Digital in the second quarter valued at $35,000. CIBC Private Wealth Group LLC boosted its stake in shares of Kornit Digital by 1,359.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,927 shares of the industrial products company’s stock valued at $26,000 after buying an additional 1,795 shares during the period. Johnson Financial Group Inc. acquired a new position in Kornit Digital during the 3rd quarter worth approximately $27,000. Finally, Fortitude Family Office LLC raised its stake in Kornit Digital by 64.2% in the third quarter. Fortitude Family Office LLC now owns 8,164 shares of the industrial products company’s stock valued at $110,000 after buying an additional 3,191 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

Kornit Digital Stock Up 1.6%

Shares of NASDAQ:KRNT opened at $14.94 on Wednesday. Kornit Digital Ltd. has a 52-week low of $11.93 and a 52-week high of $23.48. The company has a market capitalization of $669.16 million, a price-to-earnings ratio of -48.19 and a beta of 1.79. The company has a 50 day moving average of $14.62 and a two-hundred day moving average of $14.18.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Wednesday, February 11th. The industrial products company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Kornit Digital had a negative net margin of 6.49% and a negative return on equity of 1.07%. The business had revenue of $58.86 million during the quarter, compared to the consensus estimate of $58.16 million. During the same quarter last year, the company earned $0.18 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Kornit Digital Ltd. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

KRNT has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Kornit Digital in a report on Friday, December 26th. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Kornit Digital in a report on Wednesday, February 11th. Finally, Morgan Stanley reissued a “positive” rating and issued a $17.00 price target on shares of Kornit Digital in a report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.25.

Kornit Digital Company 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.