Ameriprise Financial Inc. Sells 375,632 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Ameriprise Financial Inc. decreased its holdings in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 88.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,293 shares of the scientific and technical instruments company's stock after selling 375,632 shares during the quarter. Ameriprise Financial Inc. owned 0.27% of FARO Technologies worth $1,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new stake in FARO Technologies during the fourth quarter valued at approximately $25,000. National Bank of Canada FI purchased a new stake in shares of FARO Technologies in the 4th quarter worth $55,000. Covestor Ltd purchased a new stake in shares of FARO Technologies in the 4th quarter worth $111,000. Aquatic Capital Management LLC bought a new position in FARO Technologies in the 4th quarter worth $155,000. Finally, SG Americas Securities LLC lifted its position in FARO Technologies by 13.1% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 97.19% of the company's stock.

Analysts Set New Price Targets

FARO has been the topic of several recent research reports. Craig Hallum downgraded FARO Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Needham & Company LLC downgraded FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen assumed coverage on FARO Technologies in a report on Friday, May 16th. They issued a "buy" rating on the stock.

FARO Technologies Price Performance

Shares of NASDAQ:FARO traded up $0.04 during midday trading on Wednesday, reaching $42.50. 478,240 shares of the company were exchanged, compared to its average volume of 299,258. The stock has a market cap of $817.11 million, a PE ratio of -121.43 and a beta of 1.49. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $42.64. 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 business's fifty day moving average is $33.51 and its two-hundred day moving average is $30.09.

Insider Activity

In related news, CFO Matthew Horwath sold 1,480 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 $43,364.00. Following the sale, the chief financial officer now owns 39,430 shares in the company, valued at approximately $1,155,299. This represents a 3.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter James Lau sold 4,617 shares of the firm's stock in a transaction dated 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 trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% of the company's stock.

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.