Pembroke Management LTD Takes Position in Kornit Digital Ltd (KRNT)

Pembroke Management LTD purchased a new position in Kornit Digital Ltd (NASDAQ:KRNT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 590,950 shares of the industrial products company’s stock, valued at approximately $14,065,000. Pembroke Management LTD owned about 1.69% of Kornit Digital as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Kornit Digital by 71.1% during the third quarter. Legal & General Group Plc now owns 1,345 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 559 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of Kornit Digital by 4.8% in the fourth quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 1,411 shares in the last quarter. PRW Wealth Management LLC bought a new stake in shares of Kornit Digital in the fourth quarter valued at about $38,000. Van ECK Associates Corp raised its holdings in shares of Kornit Digital by 23.0% in the fourth quarter. Van ECK Associates Corp now owns 11,152 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 2,083 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Kornit Digital by 16.9% in the third quarter. TIAA CREF Investment Management LLC now owns 21,396 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 3,088 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Several equities analysts have issued reports on KRNT shares. Zacks Investment Research upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Stifel Nicolaus lifted their target price on Kornit Digital from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Needham & Company LLC lifted their target price on Kornit Digital from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, BidaskClub upgraded Kornit Digital from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.29.

Shares of NASDAQ KRNT opened at $28.75 on Friday. The company has a market capitalization of $1.01 billion, a P/E ratio of 125.00 and a beta of 1.08. Kornit Digital Ltd has a 52 week low of $13.50 and a 52 week high of $29.63.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, February 12th. The industrial products company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.06). Kornit Digital had a net margin of 8.73% and a return on equity of 5.09%. The firm had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $38.11 million. During the same quarter in the prior year, the company earned $0.04 EPS. Kornit Digital’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities analysts expect that Kornit Digital Ltd will post 0.44 EPS for the current year.

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About Kornit Digital

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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Institutional Ownership by Quarter for Kornit Digital (NASDAQ:KRNT)

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