Cerity Partners LLC bought a new stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 12,305 shares of the company's stock, valued at approximately $72,000.
Several other institutional investors have also recently added to or reduced their stakes in LAZR. SG Americas Securities LLC increased its stake in Luminar Technologies by 98.1% during the first quarter. SG Americas Securities LLC now owns 13,420 shares of the company's stock valued at $210,000 after purchasing an additional 6,647 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Luminar Technologies by 8,000.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,025 shares of the company's stock valued at $32,000 after purchasing an additional 2,000 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Luminar Technologies by 24.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 182,074 shares of the company's stock valued at $2,846,000 after purchasing an additional 35,562 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Luminar Technologies by 5.5% during the first quarter. Arizona State Retirement System now owns 49,191 shares of the company's stock valued at $769,000 after acquiring an additional 2,543 shares during the period. Finally, Prospera Financial Services Inc acquired a new position in shares of Luminar Technologies during the first quarter valued at $32,000. Institutional investors own 62.57% of the company's stock.
Get Luminar Technologies alerts:Luminar Technologies Stock Performance
LAZR stock opened at $7.71 on Thursday. The company has a quick ratio of 9.72, a current ratio of 9.86 and a debt-to-equity ratio of 14.23. The company has a 50-day simple moving average of $7.80 and a 200 day simple moving average of $8.06. Luminar Technologies, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $18.20. The company has a market capitalization of $2.80 billion, a P/E ratio of -7.27 and a beta of 1.55.
Insiders Place Their Bets
In other Luminar Technologies news, CEO Austin Russell purchased 25,000 shares of the company's stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $9.39 per share, for a total transaction of $234,750.00. Following the completion of the transaction, the chief executive officer now 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 available through this hyperlink. Over the last three months, insiders have acquired 75,000 shares of company stock worth $711,000. 43.25% of the stock is owned by corporate insiders.Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on LAZR. The Goldman Sachs Group boosted their price target on shares of Luminar Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Friday, November 4th. Westpark Capital began coverage on shares of Luminar Technologies in a report on Tuesday, November 1st. They set a "buy" rating and a $14.00 price target for the company. Robert W. Baird reduced their price target on shares of Luminar Technologies from $30.00 to $15.00 in a report on Wednesday, August 10th. Northland Securities downgraded shares of Luminar Technologies from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $13.00 to $10.00 in a report on Thursday, September 22nd. Finally, Cowen boosted their price target on shares of Luminar Technologies to $14.00 in a report on Monday, August 15th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Luminar Technologies presently has an average rating of "Moderate Buy" and an average target price of $15.57.
About Luminar Technologies
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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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