FARO Technologies, Inc. (NASDAQ:FARO) Shares Acquired by Globeflex Capital L P

Globeflex Capital L P boosted its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,591 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,300 shares during the period. Globeflex Capital L P owned approximately 0.29% of FARO Technologies worth $1,410,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of FARO Technologies by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after purchasing an additional 966 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of FARO Technologies in the 3rd quarter worth $213,000. Inceptionr LLC acquired a new stake in shares of FARO Technologies in the fourth quarter valued at about $306,000. Range Financial Group LLC acquired a new stake in shares of FARO Technologies in the fourth quarter valued at about $374,000. Finally, Tectonic Advisors LLC acquired a new stake in shares of FARO Technologies in the fourth quarter valued at about $536,000. 97.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FARO Technologies

In other news, Director Yuval Wasserman sold 5,658 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $31.35, for a total value of $177,378.30. Following the transaction, the director now owns 153,512 shares in the company, valued at $4,812,601.20. This represents a 3.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Horwath sold 1,480 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $43,364.00. Following the completion of the transaction, the chief financial officer now owns 39,430 shares in the company, valued at $1,155,299. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,755 shares of company stock worth $356,020. Insiders own 2.10% of the company’s stock.

FARO Technologies Stock Performance

Shares of NASDAQ FARO opened at $29.43 on Friday. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $33.13. The company has a 50-day simple moving average of $29.50 and a 200-day simple moving average of $24.35. The company has a market cap of $558.64 million, a PE ratio of -84.08 and a beta of 1.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Craig Hallum raised their target price on shares of FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC raised their target price on shares of FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 8th.

About FARO Technologies

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.