Oppenheimer Asset Management Inc. Acquires 12,770 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Oppenheimer Asset Management Inc. raised its holdings in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 33.1% in the 4th quarter, HoldingsChannel reports. The firm owned 51,307 shares of the industrial products company’s stock after buying an additional 12,770 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Kornit Digital were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KRNT. Fifth Third Bancorp lifted its stake in shares of Kornit Digital by 23.4% during the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock worth $64,000 after buying an additional 393 shares during the last quarter. Privium Fund Management B.V. raised its holdings in Kornit Digital by 8.8% in the 3rd quarter. Privium Fund Management B.V. now owns 11,800 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 950 shares during the period. Handelsbanken Fonder AB lifted its position in Kornit Digital by 6.0% during the fourth quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 1,000 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Kornit Digital by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock worth $468,000 after acquiring an additional 625 shares during the period. Finally, Trust Point Inc. grew its position in shares of Kornit Digital by 10.2% in the fourth quarter. Trust Point Inc. now owns 19,694 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 1,826 shares during the last quarter. 92.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley boosted their price target on Kornit Digital from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC upped their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Craig Hallum lifted their price objective on shares of Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Kornit Digital Price Performance

Shares of NASDAQ:KRNT opened at $23.49 on Tuesday. The company’s 50 day simple moving average is $28.99 and its 200 day simple moving average is $27.05. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.28. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -67.11 and a beta of 2.02.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data 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 net margin of 8.24% and a negative return on equity of 1.51%. As a group, analysts anticipate that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Kornit Digital Company 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.