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

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Cognex by 9.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,055 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 349 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 394 shares in the last quarter. Pacer Advisors Inc. raised its stake in Cognex by 1.7% in the fourth quarter. Pacer Advisors Inc. now owns 25,685 shares of the scientific and technical instruments company’s stock worth $921,000 after buying an additional 422 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Cognex by 20.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,732 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 457 shares in the last quarter. Finally, Fiduciary Trust Co raised its holdings in Cognex by 9.6% in the third quarter. Fiduciary Trust Co now owns 5,443 shares of the scientific and technical instruments company’s stock worth $220,000 after purchasing an additional 475 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CGNX shares. Stephens reissued an “overweight” rating and issued a $55.00 target price on shares of Cognex in a report on Thursday, January 2nd. Cantor Fitzgerald upgraded shares of Cognex to a “strong-buy” rating in a report on Friday, December 20th. Needham & Company LLC lowered their price objective on Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Truist Financial lifted their target price on Cognex from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Citigroup dropped their price objective on Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cognex presently has an average rating of “Moderate Buy” and an average target price of $47.92.

Cognex Trading Up 1.3 %

NASDAQ:CGNX opened at $39.72 on Friday. The company has a market capitalization of $6.81 billion, a P/E ratio of 76.39 and a beta of 1.40. The firm has a fifty day simple moving average of $38.15 and a 200-day simple moving average of $40.02. Cognex Co. has a 12 month low of $34.79 and a 12 month high of $53.13.

Insider Activity

In related news, CTO Joerg Kuechen sold 2,934 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were 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 this link. Also, Director Anthony Sun sold 26,000 shares of Cognex stock in a transaction dated Friday, November 22nd. The stock was 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 in the company, valued at approximately $1,065,118.24. The trade was a 49.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

About Cognex

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.