State Board of Administration of Florida Retirement System bought a new stake in Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,290 shares of the company's stock, valued at approximately $144,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Financial Services Inc acquired a new stake in shares of Luminar Technologies in the first quarter worth about $32,000. Steward Partners Investment Advisory LLC lifted its position in shares of Luminar Technologies by 8,000.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company's stock worth $32,000 after buying an additional 2,000 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Luminar Technologies during the 1st quarter worth about $49,000. Apollo Management Holdings L.P. acquired a new position in shares of Luminar Technologies during the 1st quarter worth about $116,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Luminar Technologies during the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 62.57% of the company's stock.
Get Luminar Technologies alerts:Wall Street Analyst Weigh In
Several research firms recently weighed in on LAZR. Cowen boosted their price objective on Luminar Technologies to $14.00 in a research report on Monday, August 15th. Westpark Capital began coverage on Luminar Technologies in a research report on Tuesday, November 1st. They set a "buy" rating and a $14.00 price objective for the company. Craig Hallum cut their price objective on Luminar Technologies to $8.00 in a research report on Monday, August 15th. Northland Securities cut Luminar Technologies from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $13.00 to $10.00 in a research report on Thursday, September 22nd. Finally, The Goldman Sachs Group boosted their price target on Luminar Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Luminar Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $15.57.
Insider Buying and Selling
In other Luminar Technologies news, CEO Austin Russell purchased 25,000 shares of the firm's stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $9.39 per share, for a total transaction of $234,750.00. Following the transaction, the chief executive officer now directly owns 1,005,000 shares in the company, valued at $9,436,950. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 75,000 shares of company stock worth $711,000 in the last three months. Insiders own 43.25% of the company's stock.Luminar Technologies Trading Up 0.9 %
LAZR stock opened at $7.52 on Wednesday. Luminar Technologies, Inc. has a 1-year low of $5.61 and a 1-year high of $18.75. The firm has a market cap of $2.73 billion, a P/E ratio of -6.95 and a beta of 1.55. The business's 50 day moving average is $7.82 and its 200-day moving average is $8.09. The company has a current ratio of 9.86, a quick ratio of 9.72 and a debt-to-equity ratio of 14.23.
Luminar Technologies Company Profile
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Luminar Technologies, Inc, an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.
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