Trust Point Inc. Has $567,000 Stake in Cognex Co. (NASDAQ:CGNX)

Trust Point Inc. lowered its stake in shares of Cognex Co. (NASDAQ:CGNX) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,811 shares of the scientific and technical instruments company’s stock after selling 2,728 shares during the quarter. Trust Point Inc.’s holdings in Cognex were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CGNX. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Cognex by 9.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,055 shares of the scientific and technical instruments company’s stock worth $164,000 after purchasing an additional 349 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Cognex by 123.1% during the third quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 394 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Cognex by 1.7% in the 4th quarter. Pacer Advisors Inc. now owns 25,685 shares of the scientific and technical instruments company’s stock valued at $921,000 after buying an additional 422 shares during the period. First Horizon Advisors Inc. raised its position in shares of Cognex by 20.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 457 shares in the last quarter. Finally, Fiduciary Trust Co lifted its holdings in shares of Cognex by 9.6% during the 3rd quarter. Fiduciary Trust Co now owns 5,443 shares of the scientific and technical instruments company’s stock worth $220,000 after acquiring an additional 475 shares during the period. Institutional investors own 88.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stephens restated an “overweight” rating and set a $55.00 price objective on shares of Cognex in a research report on Thursday, January 2nd. Needham & Company LLC reduced their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald raised Cognex to a “strong-buy” rating in a research note on Friday, December 20th. Truist Financial raised their price target on shares of Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Citigroup lowered their price objective on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Cognex Stock Down 1.4 %

Shares of NASDAQ:CGNX opened at $38.40 on Wednesday. The firm has a market cap of $6.59 billion, a P/E ratio of 73.85 and a beta of 1.40. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13. The business has a fifty day simple moving average of $38.05 and a 200 day simple moving average of $39.60.

Insider Activity

In other Cognex news, CTO Joerg Kuechen sold 2,934 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total transaction of $110,758.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anthony Sun sold 26,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the transaction, the director now directly owns 26,608 shares in the company, valued at $1,065,118.24. This represents a 49.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.