Mirae Asset Global Investments Co. Ltd. Sells 29,931 Shares of FARO Technologies, Inc. (NASDAQ:FARO)

Mirae Asset Global Investments Co. Ltd. cut its holdings in FARO Technologies, Inc. (NASDAQ:FAROGet Rating) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,322 shares of the scientific and technical instruments company’s stock after selling 29,931 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.31% of FARO Technologies worth $12,374,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of FARO Technologies by 1,191.9% during the 1st quarter. Quadrant Capital Group LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 441 shares during the period. Advisor Group Holdings Inc. boosted its stake in shares of FARO Technologies by 40.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 702 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 201 shares during the period. Captrust Financial Advisors boosted its stake in shares of FARO Technologies by 29.7% during the 1st quarter. Captrust Financial Advisors now owns 1,985 shares of the scientific and technical instruments company’s stock worth $103,000 after purchasing an additional 455 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of FARO Technologies by 15.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,021 shares of the scientific and technical instruments company’s stock worth $208,000 after purchasing an additional 523 shares during the period. Finally, Inspire Investing LLC purchased a new position in shares of FARO Technologies during the 1st quarter worth about $236,000. 96.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Needham & Company LLC dropped their price target on shares of FARO Technologies from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. DA Davidson dropped their price target on shares of FARO Technologies from $50.00 to $40.00 in a research note on Thursday, August 4th.

FARO Technologies Price Performance

FARO Technologies stock opened at $31.08 on Tuesday. The stock has a market cap of $583.50 million, a price-to-earnings ratio of -10.54 and a beta of 1.42. FARO Technologies, Inc. has a 1 year low of $27.84 and a 1 year high of $83.39. The firm has a 50-day moving average of $33.60 and a two-hundred day moving average of $37.59.

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.

See Also

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

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