Insider Selling: Cognex Corp. CEO Sells 25,000 Shares of Stock (CGNX)
Cognex Corp. (NASDAQ:CGNX) CEO Robert Willett sold 25,000 shares of Cognex Corp. stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $63.61, for a total transaction of $1,590,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird downgraded shares of Cognex Corp. (NASDAQ:CGNX) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $62.00 price target on the stock, up previously from $55.00. Separately, analysts at Citigroup Inc. downgraded shares of Cognex Corp. (NASDAQ:CGNX) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. Finally, analysts at Piper Jaffray Cos. upgraded shares of Cognex Corp. (NASDAQ:CGNX) from an “underweight” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $58.00 price target on the stock, up previously from $34.00.
Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Cognex Corp. has a consensus rating of “Hold” and an average target price of $59.33.
Shares of Cognex Corp. (NASDAQ:CGNX) traded down 0.52% during mid-day trading on Friday, hitting $61.56. 102,333 shares of the company’s stock traded hands. Cognex Corp. has a 52 week low of $32.29 and a 52 week high of $65.20. The stock’s 50-day moving average is $56.44 and its 200-day moving average is $46.6. The company has a market cap of $2.678 billion and a P/E ratio of 40.98.
Cognex Corp. (NASDAQ:CGNX) last released its earnings data on Monday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $86.51 million for the quarter, compared to the consensus estimate of $85.30 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Cognex Corp. will post $1.63 earnings per share for the current fiscal year.
Cognex Corporation (NASDAQ:CGNX) is a provider of machine vision products, which capture and analyze visual information in order to automate tasks, in manufacturing processes, where vision is required.
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