Cognex (NASDAQ:CGNX - Get Free Report) had its price objective decreased by analysts at Truist Financial from $43.00 to $42.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the scientific and technical instruments company's stock. Truist Financial's price objective would suggest a potential upside of 16.44% from the stock's current price.
Several other brokerages have also recently commented on CGNX. Stephens raised shares of Cognex from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $55.00 in a report on Wednesday, October 16th. Needham & Company LLC dropped their price objective on Cognex from $50.00 to $47.00 and set a "buy" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cognex has a consensus rating of "Hold" and an average target price of $47.92.
Check Out Our Latest Stock Report on CGNX
Cognex Stock Up 1.3 %
Shares of Cognex stock traded up $0.46 during trading on Thursday, reaching $36.07. The company's stock had a trading volume of 2,141,346 shares, compared to its average volume of 1,262,301. The business's 50-day moving average price is $39.63 and its 200-day moving average price is $41.83. Cognex has a 52 week low of $34.79 and a 52 week high of $53.13. The firm has a market cap of $6.19 billion, a PE ratio of 69.37 and a beta of 1.39.
Insider Buying and Selling at Cognex
In other news, Director Anthony Sun sold 26,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the transaction, the director now directly owns 26,608 shares in the company, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Joerg Kuechen sold 2,934 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value of $110,758.50. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.
Institutional Investors Weigh In On Cognex
A number of institutional investors have recently added to or reduced their stakes in CGNX. Point72 Asset Management L.P. grew its stake in shares of Cognex by 122.7% in the third quarter. Point72 Asset Management L.P. now owns 2,834,755 shares of the scientific and technical instruments company's stock worth $114,808,000 after purchasing an additional 1,562,115 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Cognex by 32.8% during the 2nd quarter. Impax Asset Management Group plc now owns 5,098,711 shares of the scientific and technical instruments company's stock worth $237,812,000 after buying an additional 1,259,116 shares during the period. Railway Pension Investments Ltd bought a new stake in shares of Cognex in the 2nd quarter valued at about $27,196,000. Ceredex Value Advisors LLC increased its stake in shares of Cognex by 116.0% in the third quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company's stock valued at $31,977,000 after buying an additional 423,950 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Cognex by 33.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,621,629 shares of the scientific and technical instruments company's stock worth $75,828,000 after acquiring an additional 409,502 shares during the last quarter. 88.12% of the stock is owned by institutional investors.
About Cognex
(
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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.
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