Simon Raab Sells 15,000 Shares of FARO Technologies, Inc. (FARO) Stock

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FARO Technologies, Inc. (NASDAQ:FARO) insider Simon Raab sold 15,000 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $66.17, for a total value of $992,550.00. Following the completion of the sale, the insider now directly owns 30,047 shares of the company’s stock, valued at $1,988,209.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • 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 value of $388,604.16.

FARO opened at $66.35 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 228.79 and a beta of 1.54. FARO Technologies, Inc. has a 52 week low of $32.25 and a 52 week high of $70.20.

FARO Technologies (NASDAQ:FARO) last posted its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.22) EPS. equities research analysts predict that FARO Technologies, Inc. will post 0.83 earnings per share for the current year.

FARO has been the subject of several research reports. BidaskClub raised FARO Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research downgraded FARO Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 25th. ValuEngine raised FARO Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Finally, Craig Hallum boosted their target price on FARO Technologies from $64.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.60.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NJ State Employees Deferred Compensation Plan raised its stake in FARO Technologies by 9.1% during the 2nd 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 acquiring an additional 1,000 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in FARO Technologies by 15.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 7,841 shares of the scientific and technical instruments company’s stock valued at $426,000 after acquiring an additional 1,055 shares during the last quarter. Strs Ohio raised its stake in FARO Technologies by 10.0% during the 2nd quarter. Strs Ohio now owns 16,500 shares of the scientific and technical instruments company’s stock valued at $896,000 after acquiring an additional 1,500 shares during the last quarter. CWM LLC raised its stake in FARO Technologies by 3.8% during the 2nd quarter. CWM LLC now owns 41,398 shares of the scientific and technical instruments company’s stock valued at $2,250,000 after acquiring an additional 1,529 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in FARO Technologies by 1.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 83,630 shares of the scientific and technical instruments company’s stock valued at $4,884,000 after acquiring an additional 1,586 shares during the last quarter. 92.81% of the stock is owned by hedge funds and other institutional investors.

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.

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