Insider Selling: Cognex CFO Unloads 23,400 Shares of Stock (CGNX)
Cognex (NASDAQ:CGNX) CFO Richard Morin unloaded 23,400 shares of Cognex stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $43.06, for a total transaction of $1,007,604.00. Following the sale, the chief financial officer now directly owns 1,998 shares in the company, valued at approximately $86,034. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Separately, analysts at Zacks upgraded shares of Cognex from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 29th. They now have a $41.40 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Cognex currently has an average rating of “Hold” and an average price target of $50.28.
Cognex (NASDAQ:CGNX) traded down 1.43% during mid-day trading on Tuesday, hitting $42.11. The stock had a trading volume of 235,973 shares. Cognex has a 52-week low of $27.07 and a 52-week high of $45.80. The stock has a 50-day moving average of $39.7 and a 200-day moving average of $36.94. The company has a market cap of $3.653 billion and a P/E ratio of 44.50.
Cognex (NASDAQ:CGNX) last announced its earnings results on Monday, July 28th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.07. The company had revenue of $108.80 million for the quarter, compared to the consensus estimate of $103.30 million. During the same quarter last year, the company posted $0.38 earnings per share. Cognex’s revenue was up 25.8% compared to the same quarter last year. On average, analysts predict that Cognex will post $1.33 earnings per share for the current fiscal year.
Cognex Corporation (NASDAQ:CGNX) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.