FARO Technologies, Inc. (FARO) Shares Bought by Teachers Advisors LLC

Teachers Advisors LLC grew its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,362 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,400 shares during the quarter. Teachers Advisors LLC owned 0.27% of FARO Technologies worth $2,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in FARO Technologies during the fourth quarter worth about $272,000. Advisory Research Inc. bought a new stake in shares of FARO Technologies during the fourth quarter worth about $354,000. New England Investment & Retirement Group Inc. bought a new stake in shares of FARO Technologies during the fourth quarter worth about $355,000. BlueCrest Capital Management Ltd bought a new stake in shares of FARO Technologies during the fourth quarter worth about $481,000. Finally, Wells Fargo & Company MN grew its holdings in shares of FARO Technologies by 9.2% during the third quarter. Wells Fargo & Company MN now owns 13,692 shares of the scientific and technical instruments company’s stock worth $524,000 after purchasing an additional 1,156 shares during the last quarter. 92.58% of the stock is owned by hedge funds and other institutional investors.

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In related news, insider Simon Raab sold 11,700 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $59.93, for a total value of $701,181.00. Following the sale, the insider now directly owns 38,478 shares in the company, valued at $2,305,986.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jody Storm Gale sold 10,666 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $59.77, for a total value of $637,506.82. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Several analysts have recently weighed in on FARO shares. Zacks Investment Research upgraded FARO Technologies from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a report on Monday, January 1st. BidaskClub upgraded FARO Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Canaccord Genuity restated a “buy” rating and set a $66.00 price target on shares of FARO Technologies in a report on Thursday, February 22nd. Craig Hallum restated a “buy” rating and set a $68.00 price target (up from $60.00) on shares of FARO Technologies in a report on Friday, February 23rd. Finally, Needham & Company LLC boosted their price target on FARO Technologies to $65.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $58.67.

NASDAQ:FARO opened at $64.00 on Tuesday. The stock has a market cap of $1,030.72, a PE ratio of 220.69 and a beta of 1.43. FARO Technologies, Inc. has a 1-year low of $32.00 and a 1-year high of $64.15.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings results on Wednesday, February 21st. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.14. FARO Technologies had a positive return on equity of 1.39% and a negative net margin of 4.02%. The company had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $104.31 million. During the same period in the previous year, the business posted $0.21 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. research analysts anticipate that FARO Technologies, Inc. will post 1.03 EPS for the current year.

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FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets and supports software driven, three-dimensional (3D) measurement, imaging and realization systems. The Company operates in three segments: Factory Metrology, Construction BIM-CIM and Other. It sells its products through a direct sales force across customers in a range of manufacturing, industrial, architecture, surveying, building construction and law enforcement applications.

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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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