Swiss National Bank lifted its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) by 13.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 489,900 shares of the company's stock after buying an additional 59,700 shares during the quarter. Swiss National Bank owned approximately 0.14% of Luminar Technologies worth $2,905,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Financial Services Inc acquired a new position in shares of Luminar Technologies during the 1st quarter worth $32,000. Steward Partners Investment Advisory LLC raised its stake in Luminar Technologies by 8,000.0% in the 1st 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. Nisa Investment Advisors LLC acquired a new position in Luminar Technologies in the 2nd quarter valued at about $48,000. MCF Advisors LLC acquired a new position in Luminar Technologies in the 1st quarter valued at about $49,000. Finally, MQS Management LLC acquired a new position in Luminar Technologies in the 2nd quarter valued at about $59,000. Institutional investors and hedge funds own 62.57% of the company's stock.
Get Luminar Technologies alerts:Wall Street Analyst Weigh In
Several brokerages recently weighed in on LAZR. Cowen boosted their target price on shares of Luminar Technologies to $14.00 in a research note on Monday, August 15th. Westpark Capital initiated coverage on Luminar Technologies in a report on Tuesday, November 1st. They issued a "buy" rating and a $14.00 price target for the company. Craig Hallum lowered their price target on Luminar Technologies to $8.00 in a report on Monday, August 15th. Robert W. Baird lowered their price target on Luminar Technologies from $30.00 to $15.00 in a report on Wednesday, August 10th. Finally, The Goldman Sachs Group lifted their price target on Luminar Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Friday, November 4th. Four research 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 target price of $15.57.
Insiders Place Their Bets
In related news, CEO Austin Russell purchased 25,000 shares of the firm's stock in a transaction on Tuesday, September 20th. The stock was purchased at an average price of $9.87 per share, for a total transaction of $246,750.00. Following the acquisition, the chief executive officer now directly owns 1,030,000 shares in the company, valued at $10,166,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 75,000 shares of company stock worth $711,000 in the last 90 days. 43.25% of the stock is owned by company insiders.Luminar Technologies Stock Down 0.4 %
NASDAQ LAZR opened at $7.68 on Monday. The stock has a market cap of $2.79 billion, a PE ratio of -7.25 and a beta of 1.55. Luminar Technologies, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $18.16. The business has a 50 day moving average price of $7.71 and a two-hundred day moving average price of $8.04. The company has a quick ratio of 9.72, a current ratio of 9.86 and a debt-to-equity ratio of 14.23.
Luminar Technologies 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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