Phoenix Holdings Ltd. Invests $227,000 in FARO Technologies, Inc. (NASDAQ:FARO)

Phoenix Holdings Ltd. acquired a new position in FARO Technologies, Inc. (NASDAQ:FARO) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 3,953 shares of the scientific and technical instruments company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in FARO Technologies by 262.5% during the second quarter. First Trust Advisors LP now owns 40,619 shares of the scientific and technical instruments company’s stock valued at $2,177,000 after buying an additional 29,415 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in FARO Technologies by 33.3% during the second quarter. State of Tennessee Treasury Department now owns 16,059 shares of the scientific and technical instruments company’s stock valued at $861,000 after buying an additional 4,012 shares during the last quarter. Alps Advisors Inc. boosted its stake in FARO Technologies by 33.1% during the third quarter. Alps Advisors Inc. now owns 21,130 shares of the scientific and technical instruments company’s stock valued at $1,289,000 after buying an additional 5,259 shares during the last quarter. Prudential Financial Inc. boosted its stake in FARO Technologies by 77.6% during the second quarter. Prudential Financial Inc. now owns 53,174 shares of the scientific and technical instruments company’s stock valued at $2,850,000 after buying an additional 23,240 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in FARO Technologies by 20.1% during the second quarter. Bank of America Corp DE now owns 13,008 shares of the scientific and technical instruments company’s stock valued at $697,000 after buying an additional 2,176 shares during the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Yazid Tohme sold 10,525 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $57.58, for a total value of $606,029.50. Following the sale, the insider now directly owns 5,986 shares in the company, valued at $344,673.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Katrona Tyrrell sold 1,565 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $58.12, for a total value of $90,957.80. Following the completion of the sale, the insider now owns 924 shares in the company, valued at $53,702.88. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research raised FARO Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 6th. BidaskClub downgraded FARO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of FARO Technologies in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.50.

Shares of FARO stock opened at $65.43 on Friday. FARO Technologies, Inc. has a 1 year low of $35.15 and a 1 year high of $67.07. The stock’s 50 day simple moving average is $63.56 and its two-hundred day simple moving average is $58.14. The company has a market cap of $1.17 billion, a PE ratio of -15.01 and a beta of 1.47.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings results on Wednesday, October 28th. The scientific and technical instruments company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. FARO Technologies had a negative return on equity of 1.58% and a negative net margin of 24.28%. Equities research analysts expect that FARO Technologies, Inc. will post -0.3 earnings per share for the current fiscal year.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional (3D) measurement and imaging solutions worldwide. It operates through three segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The company offers FaroArm, a combination of a portable 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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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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