Insider Selling: FARO Technologies, Inc. (NASDAQ:FARO) CFO Sells 1,480 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) CFO Matthew Horwath sold 1,480 shares of FARO Technologies 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 $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares of the company’s stock, valued at $1,155,299. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

FARO Technologies Stock Performance

NASDAQ FARO opened at $29.03 on Wednesday. The firm has a market capitalization of $551.05 million, a P/E ratio of -82.94 and a beta of 1.55. The stock has a 50-day simple moving average of $29.32 and a two-hundred day simple moving average of $24.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 2.17. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $33.13.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The company had revenue of $93.54 million during the quarter, compared to analysts’ expectations of $91.40 million. During the same period last year, the business earned $0.36 earnings per share.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FARO shares. StockNews.com upgraded shares of FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Needham & Company LLC raised their target price on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Craig Hallum boosted their price target on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Institutional Trading of FARO Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in FARO. Quarry LP purchased a new position in FARO Technologies in the 4th quarter valued at about $25,000. National Bank of Canada FI purchased a new position in shares of FARO Technologies in the fourth quarter valued at approximately $55,000. Lazard Asset Management LLC acquired a new stake in shares of FARO Technologies in the fourth quarter worth approximately $78,000. Covestor Ltd purchased a new stake in shares of FARO Technologies during the fourth quarter worth approximately $111,000. Finally, Aquatic Capital Management LLC acquired a new position in FARO Technologies in the 4th quarter valued at $155,000. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

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.