Charles Schwab Investment Management Inc. Sells 1,103 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Charles Schwab Investment Management Inc. cut its holdings in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,456 shares of the scientific and technical instruments company’s stock after selling 1,103 shares during the period. Charles Schwab Investment Management Inc.’s holdings in FARO Technologies were worth $5,616,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of FARO Technologies by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after purchasing an additional 966 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in FARO Technologies in the 3rd quarter valued at approximately $213,000. Range Financial Group LLC acquired a new stake in FARO Technologies during the 4th quarter worth approximately $374,000. Tectonic Advisors LLC bought a new stake in FARO Technologies during the 4th quarter worth approximately $536,000. Finally, Los Angeles Capital Management LLC acquired a new position in FARO Technologies in the 4th quarter valued at approximately $716,000. Institutional investors and hedge funds own 97.19% of the company’s stock.

FARO Technologies Stock Down 3.2 %

Shares of FARO Technologies stock opened at $28.14 on Wednesday. The stock’s 50-day moving average is $29.94 and its 200 day moving average is $25.09. FARO Technologies, Inc. has a one year low of $13.52 and a one year high of $33.13. The firm has a market cap of $534.15 million, a price-to-earnings ratio of -80.40 and a beta of 1.55. 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 (NASDAQ:FARO) last posted its quarterly earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The firm had revenue of $93.54 million for the quarter, compared to analysts’ expectations of $91.40 million. During the same period in the prior year, the business earned $0.36 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FARO. Craig Hallum lifted their price target on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC lifted their target price on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, StockNews.com cut FARO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 16th.

Insider Buying and Selling at FARO Technologies

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 160,076 shares of the company’s stock, valued at approximately $4,690,226.80. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yuval Wasserman sold 5,658 shares of FARO Technologies stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the transaction, the director now owns 153,512 shares of the company’s stock, valued at $4,812,601.20. This represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,755 shares of company stock valued at $356,020. Corporate insiders own 2.10% of the company’s stock.

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.