Alliancebernstein L.P. Has $449,000 Stock Position in FARO Technologies, Inc. (NASDAQ:FARO)

Alliancebernstein L.P. lessened its holdings in FARO Technologies, Inc. (NASDAQ:FARO) by 27.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,722 shares of the scientific and technical instruments company’s stock after selling 6,870 shares during the period. Alliancebernstein L.P. owned about 0.09% of FARO Technologies worth $449,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock worth $212,000 after acquiring an additional 966 shares in the last quarter. Intech Investment Management LLC bought a new stake in FARO Technologies in the 4th quarter worth about $278,000. Inceptionr LLC purchased a new stake in FARO Technologies in the 4th quarter valued at about $306,000. Range Financial Group LLC bought a new position in shares of FARO Technologies during the 4th quarter worth approximately $374,000. Finally, Tectonic Advisors LLC purchased a new position in shares of FARO Technologies in the 4th quarter worth approximately $536,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

Insider Activity at FARO Technologies

In other FARO Technologies news, CFO Matthew Horwath sold 1,480 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter James Lau sold 4,617 shares of FARO Technologies stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $135,278.10. Following the completion of the transaction, the chief executive officer now owns 160,076 shares of the company’s stock, valued at approximately $4,690,226.80. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,755 shares of company stock worth $356,020. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FARO shares. StockNews.com downgraded FARO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 16th. Needham & Company LLC raised their target price on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th.

FARO Technologies Trading Down 2.2 %

Shares of FARO stock opened at $24.21 on Monday. 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 firm has a market cap of $465.46 million, a P/E ratio of -69.17 and a beta of 1.55. The company has a 50 day moving average of $27.82 and a 200-day moving average of $26.12. 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 earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $93.54 million during the quarter, compared to the consensus estimate of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same period last year, the business posted $0.36 earnings per share.

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.