Cognex Co. (NASDAQ:CGNX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of Cognex Co. (NASDAQ:CGNX) by 77.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,995 shares of the scientific and technical instruments company’s stock after selling 787,834 shares during the period. Jennison Associates LLC owned approximately 0.13% of Cognex worth $8,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CGNX. Riverview Trust Co acquired a new position in Cognex during the 3rd quarter worth about $25,000. Advisors Asset Management Inc. increased 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 purchasing an additional 394 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Cognex during the third quarter worth about $36,000. Clean Yield Group boosted its stake in shares of Cognex by 1,686.7% in the fourth quarter. Clean Yield Group now owns 1,072 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 1,012 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Cognex in the third quarter valued at approximately $40,000. 88.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cognex

In other Cognex news, CTO Joerg Kuechen sold 2,934 shares of Cognex 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 transaction was disclosed in a document filed 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 that occurred on 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 sale, the director now owns 26,608 shares of the company’s stock, valued at approximately $1,065,118.24. This represents a 49.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Cognex Price Performance

Shares of NASDAQ:CGNX opened at $38.92 on Thursday. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13. The firm has a market capitalization of $6.68 billion, a P/E ratio of 74.85 and a beta of 1.40. The company’s fifty day moving average price is $38.03 and its 200 day moving average price is $39.60.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CGNX. 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 report on Thursday, January 16th. Citigroup lowered 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. Needham & Company LLC reduced their price target on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald raised Cognex to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Stephens reaffirmed an “overweight” rating and issued a $55.00 target price on shares of Cognex in a report on Thursday, January 2nd. One equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price 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.