Standard Life Aberdeen plc grew its stake in shares of Kornit Digital Ltd (NASDAQ:KRNT) by 15.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,325,928 shares of the industrial products company’s stock after purchasing an additional 174,782 shares during the quarter. Standard Life Aberdeen plc owned about 3.26% of Kornit Digital worth $45,347,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of KRNT. Lenox Wealth Advisors LLC acquired a new stake in Kornit Digital in the fourth quarter valued at $42,000. Marshall Wace North America L.P. bought a new position in shares of Kornit Digital during the 4th quarter worth approximately $46,000. IFP Advisors Inc acquired a new position in shares of Kornit Digital during the 4th quarter worth approximately $47,000. Tower Research Capital LLC TRC bought a new position in Kornit Digital during the third quarter worth $50,000. Finally, Advisors Asset Management Inc. grew its stake in Kornit Digital by 54.5% in the 4th quarter. Advisors Asset Management Inc. now owns 1,917 shares of the industrial products company’s stock valued at $66,000 after buying an additional 676 shares during the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KRNT stock traded up $2.48 during trading hours on Thursday, hitting $29.87. 466,120 shares of the company’s stock traded hands, compared to its average volume of 351,419. The stock has a market cap of $1.20 billion, a PE ratio of 248.92 and a beta of 1.02. The stock’s 50 day simple moving average is $37.73 and its 200 day simple moving average is $35.11. The company has a quick ratio of 4.55, a current ratio of 5.56 and a debt-to-equity ratio of 0.06. Kornit Digital Ltd has a 12 month low of $22.17 and a 12 month high of $45.21.
A number of brokerages have recently weighed in on KRNT. Needham & Company LLC lowered their target price on Kornit Digital from $45.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Stifel Nicolaus restated a “buy” rating and set a $47.00 price objective on shares of Kornit Digital in a research note on Friday, February 28th. Zacks Investment Research cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Tuesday, February 18th. BidaskClub downgraded Kornit Digital from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 20th. Finally, ValuEngine downgraded shares of Kornit Digital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Kornit Digital currently has a consensus rating of “Buy” and an average target price of $42.00.
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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