Hedge Funds Are Crazy About Cognex Corporation (CGNX)

Page 1 of 2

Cognex Corporation (NASDAQ:CGNX) was in 10 hedge funds’ portfolio at the end of the first quarter of 2013. CGNX investors should pay attention to an increase in activity from the world’s largest hedge funds lately. There were 7 hedge funds in our database with CGNX positions at the end of the previous quarter.

In the 21st century investor’s toolkit, there are tons of methods market participants can use to track publicly traded companies. A duo of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can outperform the S&P 500 by a superb amount (see just how much).

Cognex Corporation (NASDAQ:CGNX)Just as key, bullish insider trading sentiment is a second way to parse down the stock market universe. Obviously, there are a number of reasons for an executive to cut shares of his or her company, but only one, very simple reason why they would buy. Various academic studies have demonstrated the impressive potential of this strategy if you know what to do (learn more here).

With all of this in mind, it’s important to take a gander at the key action surrounding Cognex Corporation (NASDAQ:CGNX).

What have hedge funds been doing with Cognex Corporation (NASDAQ:CGNX)?

At Q1′s end, a total of 10 of the hedge funds we track were bullish in this stock, a change of 43% from the previous quarter. With hedge funds’ capital changing hands, there exists a few notable hedge fund managers who were boosting their holdings significantly.

According to our comprehensive database, Chuck Royce’s Royce & Associates had the biggest position in Cognex Corporation (NASDAQ:CGNX), worth close to $160 million, accounting for 0.5% of its total 13F portfolio. The second largest stake is held by Gregory A. Weaver of Invicta Capital Management, with a $6.7 million position; the fund has 3% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Drew Cupps’s Cupps Capital Management, Andrew Sandler’s Sandler Capital Management and Joel Greenblatt’s Gotham Asset Management.

Now, specific money managers were breaking ground themselves. Cupps Capital Management, managed by Drew Cupps, created the most valuable position in Cognex Corporation (NASDAQ:CGNX). Cupps Capital Management had 5.8 million invested in the company at the end of the quarter. D. E. Shaw’s D E Shaw also made a $1.5 million investment in the stock during the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors and Jim Simons’s Renaissance Technologies.

What have insiders been doing with Cognex Corporation (NASDAQ:CGNX)?

Insider trading activity, especially when it’s bullish, is best served when the company in focus has seen transactions within the past half-year. Over the last 180-day time frame, Cognex Corporation (NASDAQ:CGNX) has seen zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Cognex Corporation (NASDAQ:CGNX). These stocks are Coherent, Inc. (NASDAQ:COHR), Geospace Technologies Corp (NASDAQ:GEOS), Ixia (NASDAQ:XXIA), Curtiss-Wright Corp. (NYSE:CW), and Itron, Inc. (NASDAQ:ITRI). This group of stocks are in the scientific & technical instruments industry and their market caps are similar to CGNX’s market cap.

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!