Cognex Stock Price Down 3% on Insider Selling (CGNX)
Cognex (NASDAQ:CGNX)’s share price fell 3% during trading on Wednesday after an insider sold shares in the company, Analyst Ratings Net reports. The company traded as low as $41.90 and last traded at $41.90, with a volume of 346,669 shares changing hands. The stock had previously closed at $43.20.
Specifically, Director Patrick Alias sold 7,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $43.20, for a total transaction of $324,000.00. The transaction was disclosed in a filing with the SEC, which is available at 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 given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $50.28.
The stock has a 50-day moving average of $40.87 and a 200-day moving average of $37.31. The company has a market cap of $3.639 billion and a P/E ratio of 45.00.
Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. 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.
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