Squarepoint Ops LLC Decreases Position in FARO Technologies, Inc. (NASDAQ:FARO)

Squarepoint Ops LLC cut its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 15.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,387 shares of the scientific and technical instruments company’s stock after selling 5,531 shares during the quarter. Squarepoint Ops LLC’s holdings in FARO Technologies were worth $796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in FARO Technologies by 0.8% in the 4th quarter. Millennium Management LLC now owns 54,069 shares of the scientific and technical instruments company’s stock valued at $1,371,000 after buying an additional 439 shares in the last quarter. SG Americas Securities LLC lifted its stake in FARO Technologies by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after buying an additional 966 shares in the last quarter. Quarry LP purchased a new position in FARO Technologies in the 4th quarter valued at about $25,000. Price T Rowe Associates Inc. MD lifted its stake in FARO Technologies by 3.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company’s stock valued at $942,000 after buying an additional 1,314 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in FARO Technologies by 4.5% in the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after buying an additional 1,333 shares in the last quarter. 97.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FARO shares. Craig Hallum lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Wall Street Zen initiated coverage on shares of FARO Technologies in a research note on Friday, May 16th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC lowered shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th.

FARO Technologies Trading Up 0.3%

FARO opened at $42.43 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.17 and a quick ratio of 1.83. The company’s 50 day simple moving average is $32.65 and its two-hundred day simple moving average is $29.80. FARO Technologies, Inc. has a 1-year low of $13.52 and a 1-year high of $42.64. The firm has a market capitalization of $815.76 million, a price-to-earnings ratio of -121.23 and a beta of 1.49.

Insiders Place Their Bets

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the firm’s stock in a transaction that occurred 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 $4,690,226.80. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Horwath sold 1,480 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, the chief financial officer now owns 39,430 shares of the company’s stock, valued at $1,155,299. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% 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.