Two Sigma Advisers LP Cuts Stock Position in FARO Technologies, Inc. (NASDAQ:FARO)

Two Sigma Advisers LP lowered its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO - Free Report) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,047 shares of the scientific and technical instruments company's stock after selling 21,600 shares during the quarter. Two Sigma Advisers LP owned about 0.22% of FARO Technologies worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted 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 purchasing an additional 62,305 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in FARO Technologies during the fourth quarter valued at about $10,849,000. Driehaus Capital Management LLC acquired a new stake in FARO Technologies in the fourth quarter worth about $8,990,000. Bastion Asset Management Inc. acquired a new stake in FARO Technologies in the fourth quarter worth about $5,892,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in FARO Technologies by 244.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 213,423 shares of the scientific and technical instruments company's stock worth $5,412,000 after acquiring an additional 151,382 shares in the last quarter. Institutional investors own 97.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CFO Matthew Horwath sold 1,480 shares of FARO Technologies stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 39,430 shares in the company, valued at approximately $1,155,299. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter James Lau sold 4,617 shares of the business's 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 $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. Corporate insiders own 2.40% of the company's stock.

FARO Technologies Stock Down 0.2%

NASDAQ FARO traded down $0.08 during trading on Thursday, hitting $42.42. The company's stock had a trading volume of 700,665 shares, compared to its average volume of 301,617. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. FARO Technologies, Inc. has a fifty-two week low of $13.52 and a fifty-two week high of $42.64. The company has a market cap of $815.57 million, a PE ratio of -121.20 and a beta of 1.49. The business's 50 day simple moving average is $33.81 and its 200-day simple moving average is $30.21.

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.