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

Trust Point Inc. reduced its stake in Cognex Co. (NASDAQ:CGNX) by 14.7% in the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Impax Asset Management Group plc grew its stake in shares of 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 buying an additional 131,560 shares during the period. State Street Corp boosted its holdings in Cognex by 0.8% in the third quarter. State Street Corp now owns 5,190,365 shares of the scientific and technical instruments company’s stock worth $210,210,000 after acquiring an additional 42,882 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Cognex by 8.9% in the third 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 acquiring an additional 305,913 shares during the period. Geode Capital Management LLC raised its position in shares of Cognex by 5.1% during the third 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. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Cognex by 122.7% in the 3rd 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 in the last quarter. 88.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CGNX has been the topic of several research reports. Citigroup lowered their price objective on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Stephens reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Cognex in a research report on Thursday, January 2nd. Needham & Company LLC decreased 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. Truist Financial boosted their price objective on Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Finally, Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Insiders Place Their Bets

In other Cognex news, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $40.03, for a total transaction of $1,040,780.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was 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. Corporate insiders own 1.30% of the company’s stock.

Cognex Trading Down 1.4 %

CGNX stock opened at $38.40 on Wednesday. The company’s 50 day moving average is $38.05 and its 200 day moving average is $39.60. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 73.85 and a beta of 1.40. Cognex Co. has a 1-year low of $34.79 and a 1-year high of $53.13.

Cognex 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.