Peter James Lau Sells 4,617 Shares of FARO Technologies, Inc. (NASDAQ:FARO) Stock

FARO Technologies, Inc. (NASDAQ:FARO) CEO Peter James Lau sold 4,617 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,690,226.80. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

FARO Technologies Price Performance

Shares of NASDAQ:FARO opened at $28.38 on Thursday. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $33.13. The business has a 50-day moving average of $29.40 and a two-hundred day moving average of $24.29. The stock has a market capitalization of $538.71 million, a P/E ratio of -81.08 and a beta of 1.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83.

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, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.36 earnings per share.

Institutional Trading of FARO Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in FARO. Millennium Management LLC lifted its position in shares of FARO Technologies by 0.8% during the 4th quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock worth $1,371,000 after purchasing an additional 439 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of FARO Technologies during the 4th quarter worth about $78,000. Graham Capital Management L.P. acquired a new position in shares of FARO Technologies during the 4th quarter worth about $386,000. Deutsche Bank AG lifted its position in shares of FARO Technologies by 84.9% during the 4th quarter. Deutsche Bank AG now owns 17,430 shares of the scientific and technical instruments company’s stock worth $442,000 after purchasing an additional 8,001 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of FARO Technologies during the 4th quarter worth about $8,990,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Craig Hallum boosted their target price on FARO Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded FARO Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 8th. Finally, Needham & Company LLC boosted their target price on FARO Technologies from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th.

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.