SG Americas Securities LLC Takes Position in FARO Technologies, Inc. (FARO)
SG Americas Securities LLC purchased a new stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,294 shares of the scientific and technical instruments company’s stock, valued at approximately $233,000.
A number of other institutional investors have also added to or reduced their stakes in FARO. OMERS ADMINISTRATION Corp purchased a new stake in FARO Technologies during the first quarter valued at $216,000. Alps Advisors Inc. purchased a new stake in FARO Technologies during the second quarter valued at $286,000. Russell Investments Group Ltd. raised its stake in FARO Technologies by 704.1% during the first quarter. Russell Investments Group Ltd. now owns 5,862 shares of the scientific and technical instruments company’s stock valued at $342,000 after purchasing an additional 5,133 shares in the last quarter. NJ State Employees Deferred Compensation Plan raised its stake in FARO Technologies by 9.1% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 12,000 shares of the scientific and technical instruments company’s stock valued at $652,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in FARO Technologies by 18.7% during the first quarter. Wells Fargo & Company MN now owns 13,026 shares of the scientific and technical instruments company’s stock valued at $761,000 after purchasing an additional 2,049 shares in the last quarter. 94.63% of the stock is currently owned by institutional investors.
FARO stock opened at $65.55 on Wednesday. FARO Technologies, Inc. has a twelve month low of $36.50 and a twelve month high of $70.20. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 92.79 and a beta of 1.59.
A number of research analysts have weighed in on FARO shares. BidaskClub upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Craig Hallum boosted their price objective 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. ValuEngine upgraded shares of FARO Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research cut shares of FARO Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, July 30th. One research 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $65.60.
In other news, insider Simon Raab sold 2,811 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $65.26, for a total value of $183,445.86. Following the transaction, the insider now directly owns 32,758 shares in the company, valued at $2,137,787.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kathleen Hall sold 18,064 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $68.04, for a total transaction of $1,229,074.56. Following the completion of the transaction, the chief operating officer now owns 26,199 shares in the company, valued at $1,782,579.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,241 shares of company stock worth $8,100,740. Company insiders own 3.10% of the company’s stock.
FARO Technologies Profile
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.
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