Kornit Digital (NASDAQ:KRNT) Stock: Insider Yaaqov Mann Sells 1,665 Shares

Kornit Digital Ltd. (NASDAQ:KRNT) CTO Yaaqov Mann sold 1,665 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $17.03, for a total transaction of $28,354.95. Following the sale, the chief technology officer owned 46,722 shares in the company, valued at $795,675.66. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yaaqov Mann also recently made the following trade(s):

• On Monday, October 5th, Yaaqov Mann sold 39,958 shares of Kornit Digital stock. The shares were sold at an average price of $17.66, for a total transaction of $705,658.28.
• On Friday, October 2nd, Yaaqov Mann sold 57,108 shares of Kornit Digital stock. The shares were sold at an average price of $17.27, for a total transaction of $986,255.16.

Kornit Digital Stock Up 1.1%

Kornit Digital stock opened at $17.74 on Thursday. The stock has a market capitalization of $762.29 million, a PE ratio of -36.96 and a beta of 1.85. Kornit Digital Ltd. has a twelve month low of $11.93 and a twelve month high of $19.78. The company has a 50 day moving average of $16.69 and a 200-day moving average of $16.11.

Kornit Digital (NASDAQ:KRNT) last issued its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. Kornit Digital had a negative net margin of 9.42% and a negative return on equity of 1.00%. The company had revenue of $55.32 million during the quarter, compared to the consensus estimate of $52.80 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Kornit Digital Ltd. will post -0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KRNT has been the subject of a number of research reports. Needham & Company LLC increased their target price on Kornit Digital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Zacks Research raised Kornit Digital from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings upgraded Kornit Digital from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Finally, Morgan Stanley upped their price objective on Kornit Digital from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.50.

Hedge Funds Weigh In On Kornit Digital

Several hedge funds have recently made changes to their positions in KRNT. Tidal Investments LLC raised its holdings in shares of Kornit Digital by 78.3% in the second quarter. Tidal Investments LLC now owns 68,838 shares of the industrial products company’s stock valued at $1,119,000 after purchasing an additional 30,233 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Kornit Digital in the second quarter worth $300,000. Lone Peak Global Investors LLC boosted its holdings in Kornit Digital by 2.6% during the second quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company’s stock worth $586,000 after purchasing an additional 908 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Kornit Digital during the second quarter worth $224,000. Finally, American Capital Management Inc. acquired a new position in Kornit Digital during the second quarter worth $4,598,000. 92.76% of the stock is owned by institutional investors.

Kornit Digital Company Profile

Kornit Digital Ltd. (NASDAQ: KRNT) develops, manufactures and sells digital printing technologies for the textile, apparel and related industries. Its solutions are designed to support on-demand, short-run and mass-customized production while reducing the need for traditional screen-printing processes.

The company’s product portfolio includes direct-to-garment printers for cotton and other finished apparel, direct-to-fabric systems for textiles, and digital printing solutions for home décor and related applications.