Key Points
- CTO Yaaqov Mann sold 1,665 Kornit Digital shares at an average price of $17.03, worth approximately $28,355, reducing his direct stake by 3.44% to 46,722 shares. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan.
- Mann had also sold 39,958 shares on October 5 and 57,108 shares on October 2, bringing his recent reported sales to nearly 99,000 shares.
- Kornit’s latest quarterly results exceeded expectations, with $0.04 EPS and $55.32 million in revenue, up 11.1% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $21.50.
Kornit Digital Ltd. (NASDAQ:KRNT - Get Free Report) CTO Yaaqov Mann sold 1,665 shares of the firm's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $17.03, for a total value of $28,354.95. Following the completion of the sale, the chief technology officer directly owned 46,722 shares of the company's stock, valued at $795,675.66. The trade was a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Trading Up 0.4%
Shares of Kornit Digital stock opened at $17.55 on Wednesday. The company's fifty day simple moving average is $16.69 and its two-hundred day simple moving average is $16.09. The company has a market cap of $754.07 million, a P/E ratio of -36.56 and a beta of 1.85. Kornit Digital Ltd. has a 12-month low of $11.93 and a 12-month high of $19.78.
Kornit Digital (NASDAQ:KRNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.04 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 business had revenue of $55.32 million during the quarter, compared to analyst estimates of $52.80 million. During the same period in the prior year, the business earned $0.03 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. Analysts predict 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. Morgan Stanley increased their price target on shares of Kornit Digital from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Needham & Company LLC raised their price objective on shares of Kornit Digital from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Weiss Ratings raised Kornit Digital from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 2nd. Finally, Zacks Research upgraded Kornit Digital from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $21.50.
View Our Latest Research Report on Kornit Digital
Hedge Funds Weigh In On Kornit Digital
A number of institutional investors have recently added to or reduced their stakes in KRNT. Amundi bought a new position in Kornit Digital in the first quarter worth $214,000. Public Employees Retirement System of Ohio purchased a new position in Kornit Digital during the second quarter valued at $224,000. Engineers Gate Manager LP bought a new stake in shares of Kornit Digital during the 2nd quarter valued at $300,000. Lone Peak Global Investors LLC boosted its holdings in shares of Kornit Digital by 2.6% during the 2nd quarter. Lone Peak Global Investors LLC now owns 36,069 shares of the industrial products company's stock valued at $586,000 after buying an additional 908 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Kornit Digital by 78.3% during the 2nd quarter. Tidal Investments LLC now owns 68,838 shares of the industrial products company's stock valued at $1,119,000 after buying an additional 30,233 shares in the last quarter. Institutional investors own 92.76% of the company's stock.
About Kornit Digital
(
Get Free Report)
Kornit Digital Ltd. (NASDAQ: KRNT) develops and manufactures digital printing systems, inks, software and related solutions for the textile, apparel and other printed-product markets. Its technologies are designed to enable on-demand, short-run and customized production, helping manufacturers and brands reduce reliance on traditional screen-printing and other analog processes.
The company's product portfolio includes direct-to-garment, direct-to-fabric and digital decoration systems, as well as proprietary inks, workflow software and technical services.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
