Sonora Investment Management Group LLC Purchases 1,050 Shares of Cognex Co. (NASDAQ:CGNX)

Sonora Investment Management Group LLC lifted its holdings in Cognex Co. (NASDAQ:CGNX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,806 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,050 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Cognex were worth $1,678,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Cognex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 1,784,239 shares of the scientific and technical instruments company’s stock worth $72,262,000 after buying an additional 87,790 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Cognex during the third quarter worth $790,000. Premier Fund Managers Ltd increased its holdings in shares of Cognex by 255.1% during the third quarter. Premier Fund Managers Ltd now owns 24,854 shares of the scientific and technical instruments company’s stock worth $1,001,000 after buying an additional 17,854 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Cognex by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,386,973 shares of the scientific and technical instruments company’s stock valued at $56,172,000 after acquiring an additional 77,146 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in shares of Cognex by 116.0% during the third quarter. Ceredex Value Advisors LLC now owns 789,550 shares of the scientific and technical instruments company’s stock worth $31,977,000 after purchasing an additional 423,950 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

Insiders Place Their Bets

In other Cognex news, Director Anthony Sun sold 26,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 26,608 shares of the company’s stock, valued at $1,065,118.24. This represents a 49.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Joerg Kuechen sold 2,934 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Cognex Stock Up 1.3 %

Shares of NASDAQ:CGNX opened at $39.72 on Friday. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 76.39 and a beta of 1.40. The business’s 50 day moving average is $38.15 and its 200 day moving average is $40.02. Cognex Co. has a 12-month low of $34.79 and a 12-month high of $53.13.

Analyst Ratings Changes

Several brokerages have issued reports on CGNX. Truist Financial upped their price target on shares of Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Cantor Fitzgerald upgraded Cognex to a “strong-buy” rating in a report on Friday, December 20th. Citigroup dropped their price target on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Stephens restated an “overweight” rating and issued a $55.00 target price on shares of Cognex in a report on Thursday, January 2nd. Finally, Needham & Company LLC decreased their price target 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, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.92.

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.