Arrowstreet Capital Limited Partnership Grows Stake in FARO Technologies, Inc. (NASDAQ:FARO)

Arrowstreet Capital Limited Partnership boosted its position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 244.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,423 shares of the scientific and technical instruments company's stock after acquiring an additional 151,382 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.13% of FARO Technologies worth $5,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of FARO Technologies by 13.1% during the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company's stock valued at $212,000 after purchasing an additional 966 shares during the last quarter. Intech Investment Management LLC purchased a new stake in FARO Technologies in the fourth quarter worth approximately $278,000. Inceptionr LLC bought a new position in FARO Technologies during the fourth quarter valued at approximately $306,000. Range Financial Group LLC purchased a new position in shares of FARO Technologies during the fourth quarter worth approximately $374,000. Finally, Tectonic Advisors LLC bought a new stake in shares of FARO Technologies in the 4th quarter worth approximately $536,000. Hedge funds and other institutional investors own 97.19% of the company's stock.

FARO Technologies Trading Up 2.2 %

NASDAQ:FARO traded up $0.55 during midday trading on Friday, reaching $25.40. 160,881 shares of the stock traded hands, compared to its average volume of 179,919. The stock has a market capitalization of $482.14 million, a P/E ratio of -72.57 and a beta of 1.55. 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 company has a fifty day moving average of $28.37 and a 200 day moving average of $25.85. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $33.13.

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FARO Technologies (NASDAQ:FARO - Get Free Report) last posted its 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. The company had revenue of $93.54 million during the quarter, compared to analyst estimates of $91.40 million. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. During the same period in the prior year, the business posted $0.36 earnings per share.

Wall Street Analyst Weigh In

FARO has been the topic of several recent research reports. StockNews.com lowered shares of FARO Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 16th. Needham & Company LLC raised their price target on FARO Technologies from $34.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th.

Insider Transactions at FARO Technologies

In related news, CFO Matthew Horwath sold 1,480 shares of FARO Technologies stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $43,364.00. Following the sale, the chief financial officer now owns 39,430 shares in the company, valued at $1,155,299. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Yuval Wasserman sold 5,658 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was 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 of the company's stock, valued at $4,812,601.20. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,755 shares of company stock worth $356,020. 2.10% of the stock is currently owned by insiders.

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.