Polar Asset Management Partners Inc. Has $14.01 Million Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

Polar Asset Management Partners Inc. decreased its holdings in FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 18.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,392 shares of the scientific and technical instruments company's stock after selling 124,404 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 2.92% of FARO Technologies worth $14,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FARO. Dimensional Fund Advisors LP grew its position in FARO Technologies by 9.1% during the fourth 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 acquiring an additional 62,305 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in FARO Technologies in the fourth quarter valued at approximately $10,849,000. Driehaus Capital Management LLC acquired a new position in FARO Technologies during the fourth quarter valued at approximately $8,990,000. Bastion Asset Management Inc. acquired a new stake in shares of FARO Technologies in the fourth quarter worth $5,892,000. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 acquiring an additional 151,382 shares during the period. Institutional investors and hedge funds own 97.19% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CFO Matthew Horwath sold 1,480 shares of FARO Technologies stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 39,430 shares of the company's stock, valued at $1,155,299. This trade represents a 3.62% decrease in their ownership of the stock. The transaction 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 FARO Technologies stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total transaction of $135,278.10. Following the sale, the chief executive officer now directly 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. Insiders own 2.10% of the company's stock.

FARO Technologies Price Performance

FARO traded up $0.12 during trading on Friday, reaching $42.42. The stock had a trading volume of 456,740 shares, compared to its average volume of 292,953. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $42.64. The firm has a market capitalization of $815.57 million, a price-to-earnings ratio of -121.20 and a beta of 1.49. The stock has a 50 day moving average of $32.36 and a two-hundred day moving average of $29.64. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $93.54 million for the quarter, compared to analysts' expectations of $91.40 million. During the same period in the previous year, the business earned $0.36 earnings per share.

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.