FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 18.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 65,000 shares of the scientific and technical instruments company’s stock after selling 15,000 shares during the quarter. King Luther Capital Management Corp’s holdings in FARO Technologies were worth $1,244,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Quarry LP increased its stake in shares of FARO Technologies by 912.2% in the second quarter. Quarry LP now owns 1,832 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 1,651 shares during the period. CWM LLC boosted its holdings in FARO Technologies by 343.6% in the second quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 1,828 shares during the last quarter. SG Americas Securities LLC acquired a new stake in FARO Technologies during the 3rd quarter worth about $141,000. American Century Companies Inc. raised its stake in shares of FARO Technologies by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 20,903 shares of the scientific and technical instruments company’s stock valued at $334,000 after buying an additional 2,993 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of FARO Technologies by 196.7% in the 3rd quarter. Quest Partners LLC now owns 31,622 shares of the scientific and technical instruments company’s stock valued at $605,000 after buying an additional 20,963 shares during the period. Hedge funds and other institutional investors own 97.19% of the company’s stock.

Insiders Place Their Bets

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $16.67, for a total transaction of $90,601.45. Following the transaction, the chief executive officer now directly owns 133,975 shares of the company’s stock, valued at $2,233,363.25. This trade represents a 3.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

FARO Technologies Price Performance

NASDAQ:FARO opened at $27.00 on Friday. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $28.04. The stock’s 50-day moving average price is $20.09 and its 200-day moving average price is $18.17. The stock has a market capitalization of $510.84 million, a PE ratio of -77.14 and a beta of 1.26.

Analyst Ratings Changes

Several analysts recently commented on FARO shares. Craig Hallum raised their target price on FARO Technologies from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC lifted their target price on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th.

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.