ARK Investment Management LLC Has $6.44 Million Stake in FARO Technologies, Inc. (NASDAQ:FARO)

ARK Investment Management LLC decreased its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,677 shares of the scientific and technical instruments company’s stock after selling 35,646 shares during the period. ARK Investment Management LLC owned 1.51% of FARO Technologies worth $6,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in FARO Technologies during the 2nd quarter worth $26,000. Tower Research Capital LLC TRC lifted its position in FARO Technologies by 179.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,749 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 1,123 shares during the last quarter. Captrust Financial Advisors lifted its position in FARO Technologies by 29.7% during the 1st quarter. Captrust Financial Advisors now owns 1,985 shares of the scientific and technical instruments company’s stock worth $103,000 after acquiring an additional 455 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in FARO Technologies by 15.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock worth $208,000 after acquiring an additional 523 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in FARO Technologies by 241.7% during the 2nd quarter. Royal Bank of Canada now owns 4,183 shares of the scientific and technical instruments company’s stock worth $68,000 after acquiring an additional 2,959 shares during the last quarter. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 price objective on shares of FARO Technologies in a research report on Thursday, February 29th.

Insider Activity at FARO Technologies

In other FARO Technologies news, VP Jeffrey D. Sexton sold 1,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $20.06, for a total value of $30,090.00. Following the sale, the vice president now directly owns 27,706 shares in the company, valued at $555,782.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

FARO Technologies Stock Up 1.5 %

Shares of FARO traded up $0.31 during trading hours on Wednesday, reaching $21.18. 60,032 shares of the company traded hands, compared to its average volume of 239,294. The stock’s fifty day moving average is $21.78 and its 200 day moving average is $18.99. The company has a quick ratio of 2.00, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a 1-year low of $10.30 and a 1-year high of $25.23.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Tuesday, February 27th. The scientific and technical instruments company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.31. The business had revenue of $98.84 million during the quarter. FARO Technologies had a negative net margin of 15.77% and a negative return on equity of 20.66%.

FARO Technologies 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.