Cognex Co. (CGNX) Shares Sold by Brasada Capital Management LP

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Brasada Capital Management LP lowered its stake in shares of Cognex Co. (NASDAQ:CGNX) by 74.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,150 shares of the scientific and technical instruments company’s stock after selling 11,900 shares during the period. Brasada Capital Management LP’s holdings in Cognex were worth $160,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ruggie Capital Group acquired a new stake in shares of Cognex in the 4th quarter valued at $27,000. CWM LLC raised its holdings in shares of Cognex by 1,952.6% in the 4th quarter. CWM LLC now owns 780 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 742 shares in the last quarter. Howe & Rusling Inc. acquired a new stake in shares of Cognex in the 4th quarter valued at $39,000. Valeo Financial Advisors LLC raised its holdings in shares of Cognex by 78.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,705 shares of the scientific and technical instruments company’s stock valued at $105,000 after purchasing an additional 1,185 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in shares of Cognex by 52.1% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,920 shares of the scientific and technical instruments company’s stock valued at $113,000 after purchasing an additional 1,000 shares in the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:CGNX opened at $49.37 on Thursday. Cognex Co. has a 12 month low of $34.88 and a 12 month high of $60.47. The firm has a market cap of $8.50 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.42 and a beta of 1.89.

Cognex announced that its Board of Directors has approved a stock buyback program on Monday, October 29th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Cognex from $52.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 30th. Zacks Investment Research lowered shares of Cognex from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective (up from $47.00) on shares of Cognex in a report on Tuesday. BidaskClub lowered shares of Cognex from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. Finally, Berenberg Bank assumed coverage on shares of Cognex in a report on Monday, November 19th. They issued a “buy” rating and a $54.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $49.28.

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About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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