Matthew Horwath, Senior Vice President and Chief Financial Officer of FARO Technologies Inc. (NASDAQ:FARO), recently sold 645 shares of the company's common stock. The shares were sold at a price of $26.13 each, resulting in a total transaction value of $16,853. The transaction comes as FARO, with a market capitalization of $500 million, has shown strong momentum with a 49% price return over the past six months. Following this transaction, Horwath holds 29,329 shares of FARO Technologies. It's important to note that this sale was part of a "sell-to-cover" transaction to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs), as per the company's policy. This was not a discretionary sale by Horwath. According to InvestingPro analysis, FARO currently trades near its 52-week high of $28.04, with analysts maintaining a bullish consensus on the stock. For deeper insights into FARO's insider trading patterns and comprehensive financial analysis, subscribers can access the full Pro Research Report, available exclusively on InvestingPro.
In other recent news, FARO Technologies has unveiled its financial results for the third quarter of 2024. The company's President and Chief Executive Officer, Peter Lau, and Chief Financial Officer Matt Horwath, shared insights into the company's performance and future prospects. The earnings call, facilitated by Michael Funari of Sapphire Investor Relations, presented forward-looking statements regarding FARO's anticipated business results, product and technology development, customer demand, and financial guidance.
The management of FARO Technologies has also provided financial guidance for the upcoming quarters. These projections are influenced by expected developments in product and technology and shifts in customer demand and inventory levels. However, these projections are subject to certain risks and uncertainties that could potentially alter the expected outcomes.
Despite these risks, the management remains optimistic about FARO's business results and customer demand. They anticipate positive developments in the company's product and technology offerings. These are recent developments and, as with all financial projections, are subject to change based on various market and economic factors.
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