Inspire Investing LLC Sells 19,320 Shares of Cognex Co. (NASDAQ:CGNX)

Inspire Investing LLC decreased its position in Cognex Co. (NASDAQ:CGNX - Free Report) by 65.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,209 shares of the scientific and technical instruments company's stock after selling 19,320 shares during the quarter. Inspire Investing LLC's holdings in Cognex were worth $413,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its holdings in Cognex by 94.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 286 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Cognex by 303.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 579 shares in the last quarter. Rise Advisors LLC raised its holdings in Cognex by 1,239.7% in the first quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 719 shares in the last quarter. GAMMA Investing LLC raised its holdings in Cognex by 276.1% in the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company's stock worth $51,000 after purchasing an additional 798 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Cognex in the second quarter worth $55,000. Institutional investors own 88.12% of the company's stock.

Cognex Price Performance

Shares of Cognex stock traded down $0.19 during trading on Thursday, hitting $39.99. 1,052,750 shares of the company's stock traded hands, compared to its average volume of 1,276,583. Cognex Co. has a 1 year low of $34.28 and a 1 year high of $53.13. The stock has a market capitalization of $6.86 billion, a P/E ratio of 68.95 and a beta of 1.41. The business has a 50-day simple moving average of $39.27 and a 200-day simple moving average of $43.00.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $239.00 million for the quarter, compared to analysts' expectations of $240.33 million. Cognex had a return on equity of 4.97% and a net margin of 9.29%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. On average, equities analysts predict that Cognex Co. will post 0.44 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.075 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.30 annualized dividend and a yield of 0.75%. Cognex's payout ratio is 51.72%.

Insiders Place Their Bets

In other news, CFO Dennis Fehr bought 6,570 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were acquired at an average cost of $38.04 per share, with a total value of $249,922.80. Following the completion of the transaction, the chief financial officer now owns 6,570 shares of the company's stock, valued at approximately $249,922.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Dennis Fehr acquired 6,570 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $38.04 per share, with a total value of $249,922.80. Following the completion of the purchase, the chief financial officer now directly owns 6,570 shares of the company's stock, valued at $249,922.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dianne M. Parrotte acquired 2,000 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $38.62 per share, for a total transaction of $77,240.00. Following the purchase, the director now directly owns 11,340 shares of the company's stock, valued at approximately $437,950.80. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

CGNX has been the subject of several analyst reports. Vertical Research initiated coverage on Cognex in a report on Tuesday, July 23rd. They set a "buy" rating and a $58.00 price target for the company. DA Davidson reduced their price target on Cognex from $41.00 to $39.00 and set a "neutral" rating for the company in a report on Monday, August 5th. Robert W. Baird reduced their price target on Cognex from $46.00 to $42.00 and set a "neutral" rating for the company in a report on Monday, August 5th. Needham & Company LLC raised their price target on Cognex from $48.00 to $57.00 and gave the company a "buy" rating in a report on Monday, July 29th. Finally, StockNews.com upgraded Cognex from a "sell" rating to a "hold" rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cognex has an average rating of "Moderate Buy" and an average price target of $50.00.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.