State of New Jersey Common Pension Fund D Acquires 24,464 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

State of New Jersey Common Pension Fund D raised its stake in shares of FARO Technologies, Inc. (NASDAQ:FAROGet Rating) by 106.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,512 shares of the scientific and technical instruments company’s stock after purchasing an additional 24,464 shares during the period. State of New Jersey Common Pension Fund D owned 0.26% of FARO Technologies worth $2,467,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FARO. Assenagon Asset Management S.A. acquired a new position in FARO Technologies during the 4th quarter worth about $776,000. Natixis Advisors L.P. lifted its holdings in FARO Technologies by 3.4% during the 4th quarter. Natixis Advisors L.P. now owns 26,925 shares of the scientific and technical instruments company’s stock worth $1,885,000 after buying an additional 885 shares during the period. Daventry Group LP acquired a new position in FARO Technologies during the 4th quarter worth about $8,309,000. Fisher Asset Management LLC lifted its holdings in FARO Technologies by 98.2% during the 4th quarter. Fisher Asset Management LLC now owns 61,274 shares of the scientific and technical instruments company’s stock worth $4,290,000 after buying an additional 30,355 shares during the period. Finally, Prospector Partners LLC lifted its holdings in FARO Technologies by 7.7% during the 4th quarter. Prospector Partners LLC now owns 60,400 shares of the scientific and technical instruments company’s stock worth $4,229,000 after buying an additional 4,300 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FARO has been the topic of several recent research reports. Needham & Company LLC cut their target price on FARO Technologies from $72.00 to $50.00 in a report on Thursday, April 28th. Robert W. Baird dropped their price objective on FARO Technologies from $62.00 to $50.00 in a research note on Thursday, April 28th. Finally, Craig Hallum downgraded FARO Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $74.00 to $40.00 in a research note on Thursday, April 28th.

FARO Technologies Price Performance

Shares of NASDAQ:FARO opened at $32.06 on Tuesday. The company has a market capitalization of $585.45 million, a price-to-earnings ratio of -12.62 and a beta of 1.46. The business’s 50-day moving average is $30.97 and its 200-day moving average is $42.51. FARO Technologies, Inc. has a 1 year low of $27.84 and a 1 year high of $83.39.

About FARO Technologies

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FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions in North America, South America, Europe, the Middle East, Africa, and the Asia-Pacific. 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 quickly and accurate position components; and FARO Laser Scanning Portfolio to measure and collect a cloud of data points.

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Institutional Ownership by Quarter for FARO Technologies (NASDAQ:FARO)

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