FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in FARO Technologies, Inc. (NASDAQ:FARO) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,482,354 shares of the scientific and technical instruments company’s stock after selling 263,822 shares during the quarter. Vanguard Group Inc. owned 7.82% of FARO Technologies worth $22,576,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FARO. Point72 Asset Management L.P. purchased a new position in FARO Technologies during the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC grew 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 purchasing an additional 1,123 shares in the last quarter. Captrust Financial Advisors grew 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 purchasing an additional 455 shares in the last quarter. PNC Financial Services Group Inc. grew 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 purchasing an additional 523 shares in the last quarter. Finally, Royal Bank of Canada grew 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 purchasing an additional 2,959 shares in 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 reissued a “buy” rating and set a $27.00 target price on shares of FARO Technologies in a research note on Thursday, February 29th.

Insiders Place Their Bets

In other news, VP Jeffrey D. Sexton sold 1,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $20.06, for a total transaction of $30,090.00. Following the transaction, the vice president now owns 27,706 shares in the company, valued at approximately $555,782.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

FARO Technologies Stock Down 1.7 %

FARO stock opened at $19.64 on Friday. The company has a current ratio of 2.31, a quick ratio of 2.00 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 $25.00. The company has a fifty day simple moving average of $21.42 and a 200 day simple moving average of $19.45. The firm has a market cap of $372.57 million, a PE ratio of -6.57 and a beta of 1.40.

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

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.