FARO Technologies, Inc. (NASDAQ:FARO) Holdings Decreased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 77.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,139 shares of the scientific and technical instruments company's stock after selling 228,342 shares during the quarter. Assenagon Asset Management S.A. owned about 0.35% of FARO Technologies worth $1,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in FARO Technologies by 9.1% during 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 purchasing an additional 62,305 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of FARO Technologies during the 4th quarter valued at $10,849,000. Driehaus Capital Management LLC bought a new position in shares of FARO Technologies during the 4th quarter valued at $8,990,000. Bastion Asset Management Inc. bought a new position in FARO Technologies in the 4th quarter worth $5,892,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in 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 worth $5,412,000 after buying an additional 151,382 shares in the last quarter. Institutional investors own 97.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FARO shares. Needham & Company LLC cut FARO Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Craig Hallum cut FARO Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen initiated coverage on shares of FARO Technologies in a research report on Friday, May 16th. They set a "buy" rating on the stock.

FARO Technologies Price Performance

Shares of FARO traded down $0.06 during mid-day trading on Friday, reaching $43.72. 992,512 shares of the company's stock were exchanged, compared to its average volume of 330,418. The company has a market cap of $844.67 million, a price-to-earnings ratio of -874.40 and a beta of 1.63. The company has a quick ratio of 2.01, a current ratio of 2.31 and a debt-to-equity ratio of 0.27. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $43.90. The company has a 50-day simple moving average of $37.76 and a two-hundred day simple moving average of $31.51.

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.