Jacobs Levy Equity Management Inc. Sells 31,919 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Jacobs Levy Equity Management Inc. trimmed its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,369 shares of the scientific and technical instruments company’s stock after selling 31,919 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.77% of FARO Technologies worth $7,300,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of FARO Technologies by 19.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 182,023 shares of the scientific and technical instruments company’s stock valued at $4,101,000 after purchasing an additional 29,279 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FARO Technologies by 1.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 257,109 shares of the scientific and technical instruments company’s stock valued at $5,793,000 after purchasing an additional 4,610 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of FARO Technologies by 16.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,420 shares of the scientific and technical instruments company’s stock valued at $145,000 after purchasing an additional 900 shares in the last quarter. Signaturefd LLC bought a new position in shares of FARO Technologies during the fourth quarter valued at $292,000. Finally, Bailard Inc. bought a new position in shares of FARO Technologies during the fourth quarter valued at $256,000. 97.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FARO Technologies news, Director Yuval Wasserman 12,334 shares of FARO Technologies stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 30,036 shares of company stock worth $518,303 over the last three months. 2.10% of the stock is currently owned by company insiders.

FARO Technologies Stock Performance

FARO traded down $0.20 during midday trading on Tuesday, reaching $16.88. The company had a trading volume of 97,237 shares, compared to its average volume of 181,178. FARO Technologies, Inc. has a 1 year low of $12.34 and a 1 year high of $24.80. The company has a quick ratio of 2.03, a current ratio of 2.35 and a debt-to-equity ratio of 0.28. The company has a market cap of $324.26 million, a P/E ratio of -7.50 and a beta of 1.25. The business has a 50-day moving average of $17.26 and a two-hundred day moving average of $19.52.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.11). The firm had revenue of $84.24 million for the quarter. FARO Technologies had a negative net margin of 11.92% and a negative return on equity of 16.09%. During the same quarter in the prior year, the company earned ($1.12) earnings per share.

Analysts Set New Price Targets

FARO has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of FARO Technologies in a report on Friday, May 3rd. StockNews.com raised FARO Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

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.