FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 58,614 shares of the scientific and technical instruments company’s stock after selling 2,511 shares during the quarter. Barclays PLC owned 0.31% of FARO Technologies worth $1,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in FARO Technologies by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock worth $212,000 after purchasing an additional 966 shares in the last quarter. Rhumbline Advisers boosted its holdings in FARO Technologies by 4.5% during the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after acquiring an additional 1,333 shares during the period. National Bank of Canada FI acquired a new position in FARO Technologies in the 4th quarter valued at about $55,000. Wells Fargo & Company MN increased its stake in FARO Technologies by 27.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,307 shares of the scientific and technical instruments company’s stock worth $312,000 after purchasing an additional 2,672 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of FARO Technologies by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company’s stock worth $1,667,000 after purchasing an additional 3,373 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.

FARO Technologies Stock Performance

Shares of FARO opened at $30.81 on Friday. FARO Technologies, Inc. has a 1 year low of $13.52 and a 1 year high of $33.13. The stock has a market capitalization of $592.35 million, a PE ratio of -88.03 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. The stock has a 50-day simple moving average of $27.83 and a 200-day simple moving average of $26.80.

FARO Technologies (NASDAQ:FARO) last issued its quarterly 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. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The company had revenue of $93.54 million during the quarter, compared to the consensus estimate of $91.40 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FARO. StockNews.com cut shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th. Needham & Company LLC boosted their price target on shares of FARO Technologies from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, April 25th.

Insider Activity at FARO Technologies

In related news, CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $135,278.10. Following the completion of the sale, the chief executive officer now owns 160,076 shares in the company, valued at $4,690,226.80. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yuval Wasserman sold 5,658 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,755 shares of company stock valued at $356,020 over the last quarter. 2.40% of the stock is owned by insiders.

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.