Parametric Portfolio Associates LLC raised its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 97.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,516 shares of the industrial products company’s stock after buying an additional 38,738 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.24% of Kornit Digital worth $1,519,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Kornit Digital in the 1st quarter valued at approximately $475,000. TIAA CREF Investment Management LLC raised its position in shares of Kornit Digital by 244.8% in the 1st quarter. TIAA CREF Investment Management LLC now owns 33,110 shares of the industrial products company’s stock valued at $632,000 after purchasing an additional 23,507 shares during the last quarter. UBS Group AG purchased a new position in shares of Kornit Digital in the 1st quarter valued at approximately $787,000. Bank of America Corp DE raised its position in shares of Kornit Digital by 364.8% in the 1st quarter. Bank of America Corp DE now owns 32,127 shares of the industrial products company’s stock valued at $614,000 after purchasing an additional 25,215 shares during the last quarter. Finally, Credit Suisse AG purchased a new position in shares of Kornit Digital in the 1st quarter valued at approximately $319,000. 77.41% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts recently commented on the stock. Barclays PLC decreased their price objective on shares of Kornit Digital from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Craig Hallum cut their price target on shares of Kornit Digital from $20.00 to $26.00 in a report on Thursday, September 28th. Needham & Company LLC cut their price target on shares of Kornit Digital from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price target (down previously from $24.00) on shares of Kornit Digital in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Kornit Digital presently has a consensus rating of “Hold” and an average price target of $18.67.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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