Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in Cognex Co. (NASDAQ:CGNX)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Cognex Co. (NASDAQ:CGNX) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,786 shares of the scientific and technical instruments company’s stock after buying an additional 857 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cognex were worth $745,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Creative Planning boosted its stake in Cognex by 2.4% in the third quarter. Creative Planning now owns 21,919 shares of the scientific and technical instruments company’s stock valued at $888,000 after acquiring an additional 512 shares in the last quarter. Swedbank AB lifted its holdings in shares of Cognex by 21.4% during the 3rd quarter. Swedbank AB now owns 1,700,000 shares of the scientific and technical instruments company’s stock valued at $68,850,000 after purchasing an additional 300,000 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its position in shares of Cognex by 9.9% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 293,782 shares of the scientific and technical instruments company’s stock worth $11,446,000 after purchasing an additional 26,559 shares in the last quarter. Riverview Trust Co purchased a new position in Cognex during the 3rd quarter worth $25,000. Finally, Blue Trust Inc. increased its position in Cognex by 719.2% during the 3rd quarter. Blue Trust Inc. now owns 2,171 shares of the scientific and technical instruments company’s stock valued at $88,000 after buying an additional 1,906 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Insider Activity

In other Cognex news, Director Anthony Sun sold 26,000 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were 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. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Cognex Stock Up 0.4 %

Cognex stock opened at $39.62 on Wednesday. Cognex Co. has a 52 week low of $34.98 and a 52 week high of $53.13. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 76.19 and a beta of 1.40. The business’s 50-day moving average price is $37.94 and its 200 day moving average price is $39.29.

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.