ARK Investment Management LLC Has $4.05 Million Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

ARK Investment Management LLC trimmed its position in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 4.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,495 shares of the scientific and technical instruments company’s stock after selling 10,579 shares during the quarter. ARK Investment Management LLC’s holdings in FARO Technologies were worth $4,048,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of FARO Technologies by 8.4% during the first quarter. BNP Paribas Financial Markets now owns 65,061 shares of the scientific and technical instruments company’s stock worth $1,399,000 after acquiring an additional 5,035 shares in the last quarter. Vanguard Group Inc. boosted its stake in FARO Technologies by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 1,589,519 shares of the scientific and technical instruments company’s stock valued at $34,191,000 after purchasing an additional 64,095 shares during the last quarter. Acadian Asset Management LLC increased its holdings in FARO Technologies by 136.2% during the 1st quarter. Acadian Asset Management LLC now owns 169,882 shares of the scientific and technical instruments company’s stock worth $3,653,000 after purchasing an additional 97,969 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of FARO Technologies by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock worth $642,000 after purchasing an additional 897 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in shares of FARO Technologies by 105.1% in the first quarter. Kennedy Capital Management LLC now owns 437,589 shares of the scientific and technical instruments company’s stock valued at $9,413,000 after purchasing an additional 224,273 shares in the last quarter. 97.19% of the stock is currently owned by institutional investors.

FARO Technologies Stock Performance

Shares of FARO opened at $26.88 on Friday. The stock has a 50 day moving average of $18.26 and a 200 day moving average of $17.64. The company has a market capitalization of $524.16 million, a price-to-earnings ratio of -34.03 and a beta of 1.26. FARO Technologies, Inc. has a 12 month low of $13.52 and a 12 month high of $26.89. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.14. The firm had revenue of $82.09 million during the quarter. FARO Technologies had a negative return on equity of 5.72% and a negative net margin of 4.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Craig Hallum increased their price target on FARO Technologies from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC raised their price target on shares of FARO Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday.

Insider Buying and Selling

In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $16.67, for a total value of $90,601.45. Following the sale, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by insiders.

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.