Avalon Trust Co Sells 1,550 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

Avalon Trust Co reduced its position in Kornit Digital Ltd. (NASDAQ:KRNT) by 4.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,085 shares of the industrial products company’s stock after selling 1,550 shares during the period. Avalon Trust Co owned 0.08% of Kornit Digital worth $1,117,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Kornit Digital by 23.4% in the 4th quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company’s stock valued at $64,000 after buying an additional 393 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Kornit Digital by 7.4% in the 4th quarter. US Bancorp DE now owns 8,294 shares of the industrial products company’s stock valued at $257,000 after buying an additional 572 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Kornit Digital by 3.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 18,111 shares of the industrial products company’s stock valued at $468,000 after buying an additional 625 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after buying an additional 988 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Kornit Digital by 6.0% in the 4th quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company’s stock valued at $546,000 after buying an additional 1,000 shares in the last quarter. 92.76% of the stock is currently owned by institutional investors.

Kornit Digital Trading Up 4.1 %

KRNT opened at $22.67 on Friday. Kornit Digital Ltd. has a 12-month low of $13.59 and a 12-month high of $34.29. The firm has a market capitalization of $1.08 billion, a PE ratio of -64.77 and a beta of 2.12. The firm has a 50 day moving average of $27.27 and a two-hundred day moving average of $27.13.

Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Wednesday, February 12th. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). Kornit Digital had a negative return on equity of 1.51% and a negative net margin of 8.24%. As a group, analysts predict that Kornit Digital Ltd. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KRNT. Needham & Company LLC raised their price target on shares of Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley lifted their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Kornit Digital 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.