A company insider recently bought 3,000 shares of Cognex Corporation [CGNX]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cognex Corporation shares valued at $138,000 were purchased by PARROTTE DIANNE M on May 12. At $46.00 per share, PARROTTE DIANNE M acquired 3,000 shares. The insider’s holdings grew to 3,608 shares worth approximately $0.17 million following the completion of this transaction.


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Also, ALIAS PATRICK sold 427 shares, netting a total of over 27,221 in proceeds. Following the sale of shares at $63.75 each, the insider now holds 0 shares.

Before that, Todgham Paul had sold 3,000 shares from its account. In a trade valued at $248,979, the SVP, CFO traded Cognex Corporation shares for $82.99 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $0.17 million.

As published in a research note from Bernstein on August 03, 2022, Cognex Corporation [CGNX] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $65. This represents a 26.23% premium over Thursday’s closing price. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early August. As of February 18, 2022, JP Morgan has increased its “an Underweight” rating to a “Neutral” for CGNX. Earlier on January 25, 2022, Daiwa Securities upgraded its rating. Their new recommendation was “a Buy” for CGNX stock which previously was a “a Neutral”.

Analyzing CGNX’s Price Performance

On Thursday, Cognex Corporation [NASDAQ: CGNX] rose 3.21% to $47.95. The stock’s lowest price that day was $45.93, but it reached a high of $48.17 in the same session. During the last five days, there has been a drop of approximately -5.22%. Over the course of the year, Cognex Corporation shares have dropped approximately -38.34%. Shares of the company reached a 52-week high of $80.30 on 03/29/22 and a 52-week low of $41.69 on 06/16/22. A 50-day SMA is recorded $46.10, while a 200-day SMA reached $65.15. Nevertheless, trading volume fell to 1.93 million shares from 1.29 million shares the previous day.

Support And Resistance Levels for Cognex Corporation (CGNX)

According to the 24-hour chart, there is a support level at 46.53, which, if violated, would cause prices to drop to 45.11. In the upper region, resistance lies at 48.77. The next price resistance is at 49.59. RSI (Relative Strength Index) is 51.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 52.03%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Cognex Corporation subject to short interest?

Stocks of Cognex Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.24 million shares to 5.79 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.55 million shares. A jump of 21.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.68 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.68.

Which companies own the most shares of Cognex Corporation (CGNX)?

According to The Vanguard Group, Inc. filings, the company currently owns 15,367,358 shares, which is about 8.85% of the total CGNX shares outstanding. The investor’s shares have plunged by -155,151 from its previous 13-F filing of 15522509.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $622,184,870. Walter Scott & Partners Ltd. reduced a -0.83% interest valued at $356.98 million while Brown Capital Management LLC sold a -415,735 stake. A total of 213,763 shares of Cognex Corporation were sold by AllianceBernstein LP during the quarter, and 1,422,175 were bought by American Century Investment Manag. In its current portfolio, SSgA Funds Management, Inc. holds 5,778,896 shares valued at $245.72 million.

In terms of Cognex Corporation share price expectations, FactSet research, analysts set an average price target of $54.53 in the next 12 months, up nearly 7.62% from the previous closing price of $46.46. Analysts anticipate Cognex Corporation stock to reach $80.00 by 2022, with the lowest price target being $40.00. In spite of this, 18 analysts ranked Cognex Corporation stock as an Overweight at the end of 2022. On November 12, 2021, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and upgraded coverage with a $85.

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