Alpha DNA Investment Management LLC Buys New Holdings in Cognex Co. (NASDAQ:CGNX)


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Alpha DNA Investment Management LLC bought a new stake in shares of Cognex Co. (NASDAQ:CGNX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,983 shares of the scientific and technical instruments company’s stock, valued at approximately $480,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its holdings in shares of Cognex by 4.7% in the 4th quarter. Alliancebernstein L.P. now owns 4,666,937 shares of the scientific and technical instruments company’s stock worth $374,685,000 after purchasing an additional 207,492 shares during the period. Navellier & Associates Inc boosted its stake in shares of Cognex by 3.2% in the fourth quarter. Navellier & Associates Inc now owns 103,414 shares of the scientific and technical instruments company’s stock worth $8,303,000 after buying an additional 3,181 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Cognex by 16.0% in the fourth quarter. Park Avenue Securities LLC now owns 4,247 shares of the scientific and technical instruments company’s stock worth $341,000 after buying an additional 587 shares during the last quarter. Brinker Capital Investments LLC purchased a new stake in shares of Cognex in the third quarter worth about $2,422,000. Finally, GWM Advisors LLC boosted its position in Cognex by 3.4% during the fourth quarter. GWM Advisors LLC now owns 13,059 shares of the scientific and technical instruments company’s stock worth $1,048,000 after purchasing an additional 429 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on CGNX. Cowen increased their target price on Cognex from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Morgan Stanley raised their target price on Cognex from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, February 12th. HSBC upgraded Cognex from a “hold” rating to a “buy” rating in a research report on Thursday, January 14th. Raymond James raised their price target on Cognex from $75.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. Finally, Zacks Investment Research upgraded Cognex from a “hold” rating to a “strong-buy” rating and set a $100.00 target price for the company in a report on Thursday, February 18th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.90.

Shares of NASDAQ CGNX opened at $82.45 on Thursday. Cognex Co. has a 12-month low of $44.23 and a 12-month high of $101.82. The company has a market cap of $14.56 billion, a P/E ratio of 77.78 and a beta of 1.64. The stock has a fifty day moving average price of $81.99 and a 200 day moving average price of $77.42.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Wednesday, February 10th. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Cognex had a net margin of 24.72% and a return on equity of 13.45%. The company had revenue of $223.62 million during the quarter, compared to analysts’ expectations of $206.81 million. As a group, equities analysts predict that Cognex Co. will post 0.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 12th. Investors of record on Friday, February 26th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, February 25th. This represents a $0.24 annualized dividend and a yield of 0.29%. Cognex’s dividend payout ratio (DPR) is 20.69%.

In related news, EVP Carl Gerst sold 115,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $82.76, for a total transaction of $9,517,400.00. Also, Director Dianne M. Parrotte sold 9,800 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $87.06, for a total transaction of $853,188.00. Following the completion of the transaction, the director now directly owns 4,600 shares of the company’s stock, valued at approximately $400,476. The disclosure for this sale can be found here. Insiders sold 129,800 shares of company stock worth $10,781,888 in the last 90 days. 5.20% of the stock is owned by company insiders.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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