Castleark Management LLC Takes Position in Kornit Digital Ltd. (NASDAQ:KRNT)

Castleark Management LLC bought a new stake in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 135,706 shares of the industrial products company's stock, valued at approximately $4,200,000. Castleark Management LLC owned 0.29% of Kornit Digital as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Kornit Digital by 11.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,695 shares of the industrial products company's stock valued at $3,581,000 after acquiring an additional 11,496 shares during the period. Shellback Capital LP acquired a new position in shares of Kornit Digital during the 4th quarter valued at $319,000. Pathstone Holdings LLC lifted its position in shares of Kornit Digital by 0.8% during the 4th quarter. Pathstone Holdings LLC now owns 859,668 shares of the industrial products company's stock valued at $26,607,000 after acquiring an additional 6,503 shares during the period. Nicholas Investment Partners LP lifted its position in shares of Kornit Digital by 43.1% during the 4th quarter. Nicholas Investment Partners LP now owns 385,082 shares of the industrial products company's stock valued at $11,918,000 after acquiring an additional 115,979 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Kornit Digital during the 4th quarter valued at $274,000. Institutional investors and hedge funds own 92.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KRNT shares. Morgan Stanley reiterated an "overweight" rating on shares of Kornit Digital in a research report on Thursday, May 15th. Cantor Fitzgerald upgraded shares of Kornit Digital to a "strong-buy" rating in a report on Thursday, February 27th. Finally, Needham & Company LLC upped their price objective on shares of Kornit Digital from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.20.

Kornit Digital Stock Down 2.7%

KRNT traded down $0.60 during trading on Friday, hitting $21.94. 208,531 shares of the company's stock were exchanged, compared to its average volume of 299,620. The business's 50 day moving average is $19.47 and its two-hundred day moving average is $25.75. The stock has a market cap of $1.04 billion, a P/E ratio of -62.69 and a beta of 2.00. Kornit Digital Ltd. has a fifty-two week low of $13.59 and a fifty-two week high of $34.29.

Kornit Digital Company 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.