Cubist Systematic Strategies LLC Buys Shares of 39,892 FARO Technologies, Inc. (NASDAQ:FARO)

Cubist Systematic Strategies LLC bought a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,892 shares of the scientific and technical instruments company's stock, valued at approximately $1,012,000. Cubist Systematic Strategies LLC owned approximately 0.21% of FARO Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of FARO. T. Rowe Price Investment Management Inc. purchased a new position in FARO Technologies during the 4th quarter valued at about $10,849,000. Bastion Asset Management Inc. purchased a new position in FARO Technologies during the 4th quarter valued at about $5,892,000. Arrowstreet Capital Limited Partnership grew its stake in FARO Technologies by 244.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company's stock valued at $5,412,000 after acquiring an additional 151,382 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in FARO Technologies during the 4th quarter valued at about $3,562,000. Finally, Hodges Capital Management Inc. purchased a new position in FARO Technologies during the 4th quarter valued at about $3,144,000. Hedge funds and other institutional investors own 97.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on FARO shares. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC cut FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, StockNews.com cut FARO Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 16th.

FARO Technologies Trading Down 0.0%

Shares of NASDAQ FARO opened at $42.14 on Wednesday. The stock has a market cap of $810.18 million, a price-to-earnings ratio of -120.40 and a beta of 1.49. The business has a 50 day simple moving average of $29.16 and a 200 day simple moving average of $27.90. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $42.64. 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 (NASDAQ:FARO - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $93.54 million during the quarter, compared to analysts' expectations of $91.40 million. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. During the same quarter in the previous year, the business posted $0.36 EPS.

Insider Activity at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the company's 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 $135,278.10. Following the completion of the sale, the chief executive officer now owns 160,076 shares of the company's stock, valued at $4,690,226.80. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Horwath sold 1,480 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares of the company's stock, valued at $1,155,299. The trade was a 3.62% decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company 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.

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