Insider transaction details
Joerg Kuechen, who serves as Head of Corporate M&A at Cognex Corp (NASDAQ:CGNX), sold 61,890 shares of common stock on February 20, 2026, generating approximately $3.46 million in proceeds. The sales occurred across a range of prices from $55.9801 to $56.2401, as reported on a Form 4 filing with the Securities and Exchange Commission.
The same filing shows Kuechen also added to his holdings the same day through option exercises and conversions of restricted stock units. In total, those transactions resulted in the acquisition of 70,851 shares of Cognex common stock at prices ranging from $0.0 to $39.44, totaling $2249993.
Tax-related dispositions
The Form 4 further discloses share dispositions executed to meet tax obligations tied to the exercises and conversions. Specifically, 2,575 shares were disposed of at $56.03, totaling $144,277, and an additional 3,073 shares were disposed of at $56.03, totaling $172,180.
Context from the company’s recent quarter
Cognex reported fourth-quarter 2025 revenue of $252 million, exceeding management guidance of $230-245 million and representing a 10% year-over-year increase. The company indicated growth of 9% when excluding foreign exchange effects.
Analysts and brokerages adjusted their views in response to the quarter. HSBC upgraded Cognex to a Buy rating from Hold, citing improved margin performance and cost reduction initiatives; adjusted EBITDA margin was 22.7%, up 420 basis points year-over-year. KeyBanc raised its price target for Cognex to $70 while maintaining an Overweight rating. Truist Securities increased its price target to $52 and maintained a Hold rating. DA Davidson moved its price target to $55 and kept a Neutral rating, noting a higher organic revenue growth outlook and additional cost reduction initiatives for 2026.
The company attributed margin expansion in part to a 300-basis-point decline in the SG&A ratio achieved through digitization and headcount reductions, as well as portfolio optimization.
Valuation and analyst activity
Analysis indicates Cognex appears fairly valued at current levels, and 13 analysts have recently revised earnings estimates upward. The Form 4 disclosure and the quarterly results together provide investors with a snapshot of executive trading activity alongside operational performance that has prompted changes in analyst coverage and price targets.
What the filing shows
- 61,890 shares sold on February 20, 2026, at $55.9801 to $56.2401 - approximately $3.46 million in proceeds.
- 70,851 shares acquired via option exercises and RSU conversions at $0.0 to $39.44 - totaling $2249993.
- Tax-covering dispositions: 2,575 shares at $56.03 ($144,277) and 3,073 shares at $56.03 ($172,180).
All figures above are drawn from the Form 4 filing and the company’s published quarter results.