Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cognex Corporation shares valued at $41,026 were sold by KRANTZ THEODOR on Feb 23. At $48.04 per share, KRANTZ THEODOR sold 854 shares. The insider’s holdings dropped to 35,500 shares worth approximately $1.71 million following the completion of this transaction.
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Also, KRANTZ THEODOR sold 912 shares, netting a total of over 44,132 in proceeds. Following the sale of shares at $48.39 each, the insider now holds 35,500 shares.
Before that, ALIAS PATRICK had sold 641 shares from its account. In a trade valued at $31,730, the Director traded Cognex Corporation shares for $49.50 each. Upon closing the transaction, the insider’s holdings decreased to 641 shares, worth approximately $0.0.
As published in a research note from Credit Suisse on February 23, 2023, Cognex Corporation [CGNX] has been rated up from an Underperform to a Neutral and the price target has been revised to $44 from $41. This represents a -9.23% premium over Wednesday’s closing price. Analysts at Northcoast downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of January 17, 2023, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for CGNX. Earlier on December 13, 2022, Credit Suisse initiated its rating. Their recommendation was “an Underperform” for CGNX stock.
Analyzing CGNX Stock Performance
On Wednesday, Cognex Corporation [NASDAQ: CGNX] rose 1.35% to $48.06. The stock’s lowest price that day was $47.00, but it reached a high of $48.425 in the same session. During the last five days, there has been a surge of approximately 2.65%. Over the course of the year, Cognex Corporation shares have jumped approximately 2.02%. Shares of the company reached a 52-week high of $58.12 on 02/02/23 and a 52-week low of $45.70 on 02/24/23. A 50-day SMA is recorded $50.89, while a 200-day SMA reached $47.21. Nevertheless, trading volume fell to 0.9 million shares from 0.74 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 47.23, which, if violated, would cause prices to drop to 46.40. In the upper region, resistance lies at 48.66. The next price resistance is at 49.25. RSI (Relative Strength Index) is 39.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.01, which suggests the price will decrease in the coming days. Percent R is at 77.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Cognex Corporation subject to short interest?
Stocks of Cognex Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by 70000.0 shares to 4.89 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.96 million shares. A decline of -1.43% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.75 of the overall float, the days-to-cover ratio (short ratio) decline to 6.75.
Which companies own the most shares of Cognex Corporation (CGNX)?
According to The Vanguard Group, Inc. filings, the company currently owns 15,847,205 shares, which is about 9.16% of the total CGNX shares outstanding. The investor’s shares have appreciated by 196,561 from its previous 13-F filing of 15650644.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $799,696,113. Walter Scott & Partners Ltd. acquire a 0.54% interest valued at $500.91 million while Brown Capital Management LLC sold a -1,273,232 stake. A total of 96,444 shares of Cognex Corporation were sold by SSgA Funds Management, Inc. during the quarter, and 151,776 were bought by AllianceBernstein LP. In its current portfolio, T. Rowe Price Investment Manageme holds 5,054,857 shares valued at $276.7 million.
In terms of Cognex Corporation share price expectations, FactSet research, analysts set an average price target of $50.94 in the next 12 months, up nearly 5.44% from the previous closing price of $47.42. Analysts anticipate Cognex Corporation stock to reach $65.00 by 2023, with the lowest price target being $38.00. In spite of this, 18 analysts ranked Cognex Corporation stock as a Hold at the end of 2023. On November 22, 2022, Cowen assigned a price target of “a Market perform” to the stock and downgraded coverage with a $50.