Insider Selling: FARO Technologies, Inc. (FARO) Insider Sells 1,180 Shares of Stock

FARO Technologies, Inc. (NASDAQ:FARO) insider Simon Raab sold 1,180 shares of the company’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $65.46, for a total transaction of $77,242.80. Following the sale, the insider now directly owns 31,027 shares of the company’s stock, valued at approximately $2,031,027.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Simon Raab also recently made the following trade(s):

  • On Friday, September 21st, Simon Raab sold 2,711 shares of FARO Technologies stock. The shares were sold at an average price of $65.27, for a total transaction of $176,946.97.
  • On Monday, September 24th, Simon Raab sold 2,811 shares of FARO Technologies stock. The shares were sold at an average price of $65.26, for a total transaction of $183,445.86.
  • On Thursday, August 30th, Simon Raab sold 15,000 shares of FARO Technologies stock. The shares were sold at an average price of $67.98, for a total transaction of $1,019,700.00.
  • On Wednesday, August 15th, Simon Raab sold 5,856 shares of FARO Technologies stock. The shares were sold at an average price of $66.36, for a total transaction of $388,604.16.
  • On Friday, August 17th, Simon Raab sold 15,000 shares of FARO Technologies stock. The shares were sold at an average price of $66.17, for a total transaction of $992,550.00.

Shares of NASDAQ FARO traded down $0.50 during midday trading on Thursday, hitting $64.10. 43,200 shares of the company’s stock traded hands, compared to its average volume of 91,339. FARO Technologies, Inc. has a 1 year low of $37.30 and a 1 year high of $70.20. The firm has a market capitalization of $1.11 billion, a P/E ratio of 222.93 and a beta of 1.59.

FARO Technologies (NASDAQ:FARO) last announced its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. The company had revenue of $98.24 million during the quarter, compared to the consensus estimate of $96.08 million. FARO Technologies had a positive return on equity of 3.23% and a negative net margin of 2.00%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) EPS. analysts forecast that FARO Technologies, Inc. will post 0.83 EPS for the current fiscal year.

Several equities research analysts have recently commented on FARO shares. BidaskClub raised shares of FARO Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. ValuEngine lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Craig Hallum upped their price target on shares of FARO Technologies from $64.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research lowered shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $65.60.

Large investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp bought a new position in shares of FARO Technologies during the 1st quarter valued at approximately $216,000. SG Americas Securities LLC bought a new position in shares of FARO Technologies during the 2nd quarter valued at approximately $233,000. Alps Advisors Inc. bought a new position in shares of FARO Technologies during the 2nd quarter valued at approximately $286,000. Jane Street Group LLC bought a new position in shares of FARO Technologies during the 2nd quarter valued at approximately $302,000. Finally, Russell Investments Group Ltd. grew its stake in shares of FARO Technologies by 704.1% during the 1st quarter. Russell Investments Group Ltd. now owns 5,862 shares of the scientific and technical instruments company’s stock valued at $342,000 after acquiring an additional 5,133 shares during the period. Institutional investors own 94.63% of the company’s stock.

About FARO Technologies

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven, three-dimensional (3D) measurement, imaging, and realization systems. The company offers FaroArm, a combination of six or seven-axis, articulated measurement arm, a computer, and CAM2 software programs; and FARO ScanArm, a FaroArm equipped with a hard probe and non-contact laser line probe to measure products.

Further Reading: What are earnings reports?

Insider Buying and Selling by Quarter for FARO Technologies (NASDAQ:FARO)

Receive News & Ratings for FARO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FARO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply