Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) CEO Sells 4,617 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau sold 4,617 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the transaction, the chief executive officer now owns 160,076 shares of the company’s stock, valued at $4,690,226.80. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

FARO Technologies Price Performance

NASDAQ:FARO traded up $1.32 during mid-day trading on Tuesday, hitting $29.03. 238,013 shares of the stock traded hands, compared to its average volume of 175,588. The business’s 50-day moving average price is $29.32 and its 200 day moving average price is $24.21. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. The company has a market cap of $551.05 million, a PE ratio of -82.94 and a beta of 1.55. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The firm had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. During the same period in the previous year, the business earned $0.36 EPS.

Institutional Trading of FARO Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. purchased a new stake in FARO Technologies in the fourth quarter valued at approximately $10,849,000. Driehaus Capital Management LLC bought a new stake in shares of FARO Technologies during the 4th quarter worth $8,990,000. Royce & Associates LP grew its position in FARO Technologies by 20.0% in the third quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock worth $26,969,000 after acquiring an additional 234,650 shares in the last quarter. Bastion Asset Management Inc. bought a new position in FARO Technologies in the fourth quarter valued at $5,892,000. Finally, Needham Investment Management LLC raised its position in FARO Technologies by 20.0% during the third quarter. Needham Investment Management LLC now owns 1,029,250 shares of the scientific and technical instruments company’s stock valued at $19,700,000 after purchasing an additional 171,300 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Analyst Ratings Changes

FARO has been the subject of several analyst reports. Craig Hallum raised their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC raised their price target on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.