FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,581 shares of the scientific and technical instruments company’s stock after selling 11,537 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in FARO Technologies were worth $1,389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royce & Associates LP boosted its stake in FARO Technologies by 20.0% during the 3rd quarter. Royce & Associates LP now owns 1,409,031 shares of the scientific and technical instruments company’s stock valued at $26,969,000 after purchasing an additional 234,650 shares in the last quarter. Swedbank AB acquired a new position in FARO Technologies during the first quarter worth about $3,226,000. Divisar Capital Management LLC raised its position in FARO Technologies by 5.1% in the second quarter. Divisar Capital Management LLC now owns 1,838,777 shares of the scientific and technical instruments company’s stock worth $29,420,000 after acquiring an additional 90,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in FARO Technologies by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock valued at $34,191,000 after acquiring an additional 64,095 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of FARO Technologies by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 604,432 shares of the scientific and technical instruments company’s stock valued at $9,671,000 after purchasing an additional 59,142 shares in the last quarter. Institutional investors own 97.19% of the company’s stock.

Wall Street Analysts Forecast Growth

FARO has been the subject of several recent research reports. StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Craig Hallum raised their price objective on FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their target price on FARO Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

FARO Technologies Stock Performance

FARO Technologies stock opened at $26.40 on Wednesday. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $28.04. The firm’s 50 day simple moving average is $20.28 and its 200-day simple moving average is $18.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The company has a market cap of $499.41 million, a P/E ratio of -75.89 and a beta of 1.26.

Insiders Place Their Bets

In other news, CEO Peter James Lau sold 5,435 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the completion of the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at $2,233,363.25. This trade represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

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.