Published on 8 Mar 2024 on GuruFocus.com via Yahoo Finance
Insider Sell: EVP, Vision & ID Products Carl Gerst Sells 6,782 Shares of Cognex Corp (CGNX)
Cognex Corporation (NASDAQ:CGNX) is a company that specializes in machine vision products that capture and analyze visual information in order to automate tasks where vision is required. The company's products are used in factories, warehouses, and logistics centers around the world to guide, inspect, gauge, and identify items in the manufacturing and distribution process.According to a recent SEC filing, Carl Gerst, Executive Vice President of Vision & ID Products at Cognex Corp, sold 6,782 shares of the company on March 6, 2024. The transaction was executed at an average price of $40.54 per share, resulting in a total value of $274,982.28.Over the past year, Carl Gerst has sold a total of 6,782 shares of Cognex Corp and has not made any purchases of the stock. This latest transaction continues the trend of insider selling activity at the company, with a total of 1 insider sell and 0 insider buys over the same timeframe.
The insider transaction history suggests a cautious approach from insiders in terms of equity ownership, with a lack of purchases to offset the sales.On the valuation front, Cognex Corp's shares were trading at $40.54 on the day of the insider's recent sale, giving the company a market capitalization of $7.023 billion. The price-earnings ratio stands at 62.95, which is above both the industry median of 23.65 and the company's historical median price-earnings ratio.Despite the higher price-earnings ratio, Cognex Corp is considered Modestly Undervalued with a price-to-GF-Value ratio of 0.88, based on a GuruFocus Value of $45.90.