Summit Creek Advisors LLC increased its stake in Kornit Digital Ltd (NASDAQ:KRNT) by 15.1% in the 1st quarter, HoldingsChannel reports. The fund owned 517,120 shares of the industrial products company’s stock after purchasing an additional 67,840 shares during the quarter. Kornit Digital comprises 2.2% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Summit Creek Advisors LLC’s holdings in Kornit Digital were worth $12,307,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Kornit Digital during the 3rd quarter valued at $339,000. ETF Managers Group LLC increased its stake in Kornit Digital by 4.8% during the 4th quarter. ETF Managers Group LLC now owns 30,835 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 1,411 shares in the last quarter. BlackRock Inc. increased its stake in Kornit Digital by 6.3% during the 3rd quarter. BlackRock Inc. now owns 410,780 shares of the industrial products company’s stock valued at $8,996,000 after purchasing an additional 24,282 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Kornit Digital during the 3rd quarter valued at $6,868,000. Finally, Vigilant Capital Management LLC bought a new stake in Kornit Digital during the 4th quarter valued at $150,000. Institutional investors own 94.94% of the company’s stock.

KRNT stock traded up $0.18 during midday trading on Monday, reaching $27.79. 1,770 shares of the company’s stock traded hands, compared to its average volume of 307,739. The firm has a market capitalization of $974.67 million, a PE ratio of 116.04 and a beta of 0.98. Kornit Digital Ltd has a 52 week low of $13.05 and a 52 week high of $28.24.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Tuesday, February 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). Kornit Digital had a return on equity of 5.09% and a net margin of 8.73%. The firm had revenue of $37.80 million during the quarter, compared to the consensus estimate of $38.11 million. During the same quarter in the previous year, the company earned $0.04 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. Research analysts anticipate that Kornit Digital Ltd will post 0.44 EPS for the current year.

KRNT has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Kornit Digital from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Craig Hallum set a $25.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a research note on Thursday, February 14th. BidaskClub upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Finally, Needham & Company LLC boosted their price target on shares of Kornit Digital from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Kornit Digital currently has a consensus rating of “Buy” and a consensus target price of $24.29.

COPYRIGHT VIOLATION NOTICE: This news story was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://theolympiareport.com/2019/04/15/kornit-digital-ltd-krnt-shares-bought-by-summit-creek-advisors-llc.html.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.

Featured Story: What is the Book Value of a Share?

Want to see what other hedge funds are holding KRNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kornit Digital Ltd (NASDAQ:KRNT).

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

Receive News & Ratings for Kornit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kornit Digital and related companies with MarketBeat.com's FREE daily email newsletter.