New York State Common Retirement Fund Sells 476,514 Shares of Cognex Corporation $CGNX

New York State Common Retirement Fund trimmed its stake in Cognex Corporation (NASDAQ:CGNX) by 64.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 261,017 shares of the scientific and technical instruments company’s stock after selling 476,514 shares during the period. New York State Common Retirement Fund’s holdings in Cognex were worth $11,824,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Quent Capital LLC purchased a new stake in Cognex during the 3rd quarter valued at $26,000. Geneos Wealth Management Inc. raised its stake in shares of Cognex by 402.2% in the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 736 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Cognex in the 2nd quarter worth about $29,000. TD Waterhouse Canada Inc. purchased a new position in shares of Cognex during the 2nd quarter worth about $29,000. Finally, First Horizon Corp purchased a new position in shares of Cognex during the 3rd quarter worth about $38,000. Institutional investors own 88.12% of the company’s stock.

Cognex Stock Performance

NASDAQ:CGNX opened at $39.76 on Tuesday. The firm has a 50-day simple moving average of $38.08 and a 200-day simple moving average of $40.85. Cognex Corporation has a one year low of $22.67 and a one year high of $49.76. The firm has a market cap of $6.66 billion, a P/E ratio of 62.13 and a beta of 1.53.

Analysts Set New Price Targets

Several brokerages have issued reports on CGNX. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $35.00 price objective (down previously from $45.00) on shares of Cognex in a research note on Wednesday, December 3rd. UBS Group reissued a “buy” rating and set a $58.00 price target on shares of Cognex in a research note on Friday, October 31st. Truist Financial dropped their price objective on Cognex from $45.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, December 18th. DA Davidson set a $38.00 target price on Cognex and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cognex in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.64.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.