Jacobs Levy Equity Management Inc. Sells 29,911 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Jacobs Levy Equity Management Inc. cut its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,155 shares of the scientific and technical instruments company's stock after selling 29,911 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.39% of FARO Technologies worth $6,674,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP bought a new stake in FARO Technologies during the 4th quarter valued at about $25,000. National Bank of Canada FI purchased a new stake in shares of FARO Technologies during the fourth quarter valued at approximately $55,000. Covestor Ltd bought a new stake in shares of FARO Technologies during the fourth quarter valued at approximately $111,000. Aquatic Capital Management LLC purchased a new position in FARO Technologies in the 4th quarter worth approximately $155,000. Finally, SG Americas Securities LLC raised its holdings in FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company's stock worth $212,000 after acquiring an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company's stock.

Insider Activity at FARO Technologies

In other news, CFO Matthew Horwath sold 1,480 shares of the business's stock in a transaction on Friday, March 7th. The shares were 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. The trade was a 3.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter James Lau sold 4,617 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value 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 trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

FARO Technologies Stock Performance

FARO Technologies stock traded down $0.04 during midday trading on Monday, reaching $42.25. 172,382 shares of the company traded hands, compared to its average volume of 275,468. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $42.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The business has a 50 day moving average of $29.98 and a two-hundred day moving average of $28.48. The firm has a market capitalization of $812.20 million, a price-to-earnings ratio of -120.68 and a beta of 1.49.

FARO Technologies (NASDAQ:FARO - Get Free Report) last released 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 firm had revenue of $93.54 million for the quarter, compared to analysts' expectations of $91.40 million. During the same period in the prior year, the firm earned $0.36 EPS.

Analysts Set New Price Targets

Several analysts have commented on FARO shares. StockNews.com initiated coverage on FARO Technologies in a research note on Friday. They set a "buy" rating on the stock. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC downgraded FARO Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

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.