Cognex (NASDAQ:CGNX) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Cognex (NASDAQ:CGNX) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $49.00 price target on the scientific and technical instruments company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 35.32% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Needham & Company LLC decreased their price target on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Stephens upgraded shares of Cognex from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $55.00 in a research report on Wednesday, October 16th. Finally, Truist Financial dropped their target price on shares of Cognex from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cognex has an average rating of “Hold” and an average target price of $47.92.

Cognex Price Performance

Cognex stock traded up $0.60 during mid-day trading on Thursday, hitting $36.21. 466,604 shares of the company’s stock traded hands, compared to its average volume of 1,255,203. The firm has a 50 day simple moving average of $39.63 and a two-hundred day simple moving average of $41.83. Cognex has a fifty-two week low of $34.79 and a fifty-two week high of $53.13. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 69.64 and a beta of 1.39.

Insider Buying and Selling at Cognex

In other Cognex news, CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total value of $110,758.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anthony Sun sold 26,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $40.03, for a total value of $1,040,780.00. Following the transaction, the director now owns 26,608 shares of the company’s stock, valued at $1,065,118.24. The trade was a 49.42 % decrease in their position. 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

Several hedge funds and other institutional investors have recently modified their holdings of CGNX. Impax Asset Management Group plc boosted its holdings in Cognex by 2.6% in the 3rd quarter. Impax Asset Management Group plc now owns 5,230,271 shares of the scientific and technical instruments company’s stock valued at $211,303,000 after purchasing an additional 131,560 shares during the period. State Street Corp grew its position in Cognex by 0.8% during the third quarter. State Street Corp now owns 5,190,365 shares of the scientific and technical instruments company’s stock valued at $210,210,000 after acquiring an additional 42,882 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Cognex by 8.1% in the 2nd quarter. William Blair Investment Management LLC now owns 4,018,539 shares of the scientific and technical instruments company’s stock worth $187,907,000 after acquiring an additional 301,916 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Cognex by 8.9% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 3,751,807 shares of the scientific and technical instruments company’s stock valued at $151,948,000 after purchasing an additional 305,913 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Cognex by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,608,028 shares of the scientific and technical instruments company’s stock worth $146,157,000 after purchasing an additional 175,423 shares during the period. 88.12% of the stock is currently owned by institutional investors.

Cognex Company Profile

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.