Castleark Management LLC Acquires New Holdings in Kornit Digital Ltd. (NASDAQ:KRNT)

Castleark Management LLC purchased a new position in shares of Kornit Digital Ltd. (NASDAQ:KRNT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Kornit Digital by 23.4% in the fourth quarter. Fifth Third Bancorp now owns 2,069 shares of the industrial products company's stock worth $64,000 after purchasing an additional 393 shares in the last quarter. US Bancorp DE boosted its stake 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 purchasing an additional 572 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Kornit Digital by 8.5% in the fourth quarter. American Century Companies Inc. now owns 11,120 shares of the industrial products company's stock worth $344,000 after buying an additional 874 shares during the period. Parkside Financial Bank & Trust lifted its stake in Kornit Digital by 35.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company's stock worth $117,000 after acquiring an additional 988 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Kornit Digital by 6.0% in the 4th quarter. Handelsbanken Fonder AB now owns 17,657 shares of the industrial products company's stock worth $546,000 after acquiring an additional 1,000 shares during the last quarter. 92.76% of the stock is owned by hedge funds and other institutional investors.

Kornit Digital Trading Up 1.4%

KRNT traded up $0.32 during trading on Tuesday, hitting $22.26. 56,156 shares of the company's stock were exchanged, compared to its average volume of 298,664. Kornit Digital Ltd. has a 1 year low of $13.59 and a 1 year high of $34.29. The stock has a 50 day moving average price of $19.47 and a 200 day moving average price of $25.66. The firm has a market cap of $1.06 billion, a P/E ratio of -63.60 and a beta of 2.00.

Analyst Upgrades and Downgrades

KRNT has been the topic of several recent research reports. Cantor Fitzgerald raised Kornit Digital to a "strong-buy" rating in a research note on Thursday, February 27th. Needham & Company LLC lifted their target price on Kornit Digital from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Kornit Digital in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.20.

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.