AlphaQuest LLC Sells 31,960 Shares of Cognex Corporation $CGNX

AlphaQuest LLC lessened its stake in shares of Cognex Corporation (NASDAQ:CGNX) by 66.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,270 shares of the scientific and technical instruments company’s stock after selling 31,960 shares during the period. AlphaQuest LLC’s holdings in Cognex were worth $737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Cognex by 13.2% in the 1st quarter. Royal Bank of Canada now owns 200,351 shares of the scientific and technical instruments company’s stock worth $5,976,000 after acquiring an additional 23,326 shares during the last quarter. Empowered Funds LLC bought a new position in Cognex during the 1st quarter valued at about $291,000. Intech Investment Management LLC raised its position in Cognex by 24.1% in the 1st quarter. Intech Investment Management LLC now owns 47,444 shares of the scientific and technical instruments company’s stock worth $1,415,000 after purchasing an additional 9,223 shares during the period. Geneos Wealth Management Inc. lifted its stake in Cognex by 402.2% in the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 736 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Cognex by 31.5% during the second quarter. Farther Finance Advisors LLC now owns 1,277 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 306 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Stock Performance

NASDAQ CGNX opened at $40.85 on Wednesday. Cognex Corporation has a one year low of $22.67 and a one year high of $49.76. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 63.83 and a beta of 1.53. The company’s 50-day simple moving average is $38.15 and its two-hundred day simple moving average is $40.90.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CGNX shares. The Goldman Sachs Group upgraded Cognex from a “sell” rating to a “buy” rating and increased their price target for the stock from $42.00 to $50.00 in a report on Tuesday, December 16th. DA Davidson set a $38.00 target price on Cognex and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Needham & Company LLC lifted their target price on Cognex from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays set a $54.00 price target on shares of Cognex and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $35.00 price target (down previously from $45.00) on shares of Cognex in a research note on Wednesday, December 3rd. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.64.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.