Migdal Insurance & Financial Holdings Ltd. Increases Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Migdal Insurance & Financial Holdings Ltd. grew its holdings in Kornit Digital Ltd. (NASDAQ:KRNT) by 103.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 953,682 shares of the industrial products company’s stock after acquiring an additional 485,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 1.90% of Kornit Digital worth $18,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. American International Group Inc. lifted its position in shares of Kornit Digital by 4.5% in the first quarter. American International Group Inc. now owns 6,791 shares of the industrial products company’s stock worth $562,000 after buying an additional 291 shares in the last quarter. Prudential Financial Inc. increased its stake in Kornit Digital by 21.2% during the first quarter. Prudential Financial Inc. now owns 3,555 shares of the industrial products company’s stock worth $294,000 after acquiring an additional 623 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Kornit Digital by 3.6% during the first quarter. Thrivent Financial for Lutherans now owns 19,406 shares of the industrial products company’s stock worth $376,000 after acquiring an additional 669 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Kornit Digital by 2.9% during the second quarter. JPMorgan Chase & Co. now owns 24,533 shares of the industrial products company’s stock worth $777,000 after acquiring an additional 691 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Kornit Digital by 6.8% during the third quarter. Van ECK Associates Corp now owns 11,658 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 742 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Kornit Digital Stock Performance

Kornit Digital stock traded down $0.11 during mid-day trading on Wednesday, reaching $15.74. 97,174 shares of the company were exchanged, compared to its average volume of 513,121. The business has a fifty day moving average of $17.78 and a 200 day moving average of $17.43. The firm has a market cap of $751.43 million, a P/E ratio of -12.03 and a beta of 1.89. Kornit Digital Ltd. has a 12-month low of $13.29 and a 12-month high of $31.94.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Wednesday, February 14th. The industrial products company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $56.59 million during the quarter, compared to analyst estimates of $57.35 million. Kornit Digital had a negative return on equity of 5.05% and a negative net margin of 29.28%. Sell-side analysts predict that Kornit Digital Ltd. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th.

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 in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.