California State Teachers Retirement System Buys 575 Shares of Kornit Digital Ltd. (NASDAQ:KRNT)

California State Teachers Retirement System raised its stake in Kornit Digital Ltd. (NASDAQ:KRNT) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,855 shares of the industrial products company’s stock after acquiring an additional 575 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Kornit Digital worth $1,450,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KRNT. Russell Investments Group Ltd. increased its stake in shares of Kornit Digital by 654.5% in the fourth quarter. Russell Investments Group Ltd. now owns 2,075 shares of the industrial products company’s stock valued at $64,000 after buying an additional 1,800 shares during the period. Parkside Financial Bank & Trust increased its position in Kornit Digital by 35.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,773 shares of the industrial products company’s stock valued at $117,000 after buying an additional 988 shares in the last quarter. Deutsche Bank AG raised its position in shares of Kornit Digital by 31.5% during the fourth quarter. Deutsche Bank AG now owns 4,770 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 1,143 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Kornit Digital in the fourth quarter valued at $159,000. Finally, Pictet Asset Management Holding SA bought a new position in Kornit Digital in the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 92.76% of the company’s stock.

Kornit Digital Stock Up 0.9%

Kornit Digital stock opened at $22.54 on Monday. Kornit Digital Ltd. has a twelve month low of $13.59 and a twelve month high of $34.29. The firm has a fifty day simple moving average of $19.80 and a two-hundred day simple moving average of $25.09. The company has a market capitalization of $1.07 billion, a PE ratio of -64.40 and a beta of 1.93.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Kornit Digital in a research note on Thursday, May 15th. Cantor Fitzgerald upgraded shares of Kornit Digital to a “strong-buy” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Kornit Digital in a research note on Thursday. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.20.

About Kornit Digital

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.