FARO Technologies, Inc. (NASDAQ:FARO) insider Simon Raab sold 1,180 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $65.46, for a total value of $77,242.80. Following the completion of the transaction, the insider now owns 31,027 shares of the company’s stock, valued at $2,031,027.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

Shares of FARO traded down $0.50 during mid-day trading on Thursday, hitting $64.10. 43,200 shares of the stock were exchanged, compared to its average volume of 91,339. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 222.93 and a beta of 1.59. FARO Technologies, Inc. has a 52-week low of $37.30 and a 52-week high of $70.20.

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

Several research analysts have weighed in on FARO shares. BidaskClub upgraded FARO Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. ValuEngine downgraded FARO Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Craig Hallum upped their price target on FARO Technologies from $64.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, Zacks Investment Research downgraded FARO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.60.

Institutional investors and hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of FARO Technologies during the 1st quarter worth approximately $216,000. SG Americas Securities LLC purchased a new stake in shares of FARO Technologies during the 2nd quarter worth approximately $233,000. Alps Advisors Inc. purchased a new stake in shares of FARO Technologies during the 2nd quarter worth approximately $286,000. Jane Street Group LLC purchased a new stake in shares of FARO Technologies during the 2nd quarter worth approximately $302,000. Finally, Russell Investments Group Ltd. raised its holdings 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 worth $342,000 after acquiring an additional 5,133 shares in the last quarter. 94.63% of the stock is currently owned by institutional investors and hedge funds.

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: Outstanding Shares and The Effect on Share Price

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

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