FARO Technologies, Inc. (NASDAQ:FARO) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lowered its position in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 341,970 shares of the scientific and technical instruments company's stock after selling 54,860 shares during the period. Invenomic Capital Management LP owned about 1.81% of FARO Technologies worth $8,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of FARO Technologies by 9.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 744,222 shares of the scientific and technical instruments company's stock valued at $18,874,000 after buying an additional 62,305 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in FARO Technologies in the fourth quarter valued at $10,849,000. Driehaus Capital Management LLC purchased a new stake in shares of FARO Technologies during the 4th quarter worth $8,990,000. Bastion Asset Management Inc. acquired a new position in shares of FARO Technologies during the 4th quarter worth $5,892,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of FARO Technologies by 244.0% in 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 purchasing an additional 151,382 shares in the last quarter. Institutional investors and hedge funds own 97.19% of the company's stock.

FARO Technologies Price Performance

Shares of NASDAQ FARO opened at $42.31 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The stock has a market cap of $813.45 million, a price-to-earnings ratio of -120.88 and a beta of 1.49. The company's 50-day moving average price is $28.69 and its 200 day moving average price is $27.56. FARO Technologies, Inc. has a 52 week low of $13.52 and a 52 week high of $42.50.

FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million during the quarter, compared to analysts' expectations of $91.40 million. During the same period last year, the company posted $0.36 EPS.

Insider Activity

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the sale, the chief financial officer now directly owns 39,430 shares of the company's stock, valued at approximately $1,155,299. This represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

FARO has been the topic of a number of research analyst reports. StockNews.com downgraded shares of FARO Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 16th. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a report on Tuesday. Finally, Needham & Company LLC downgraded FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday.

FARO Technologies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.