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Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Bought by Deutsche Bank AG

Defense World ·  Nov 30, 2022 18:11

Deutsche Bank AG boosted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,017,645 shares of the company's stock after buying an additional 118,521 shares during the period. Deutsche Bank AG owned 0.29% of Luminar Technologies worth $6,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAZR. Bank of Montreal Can boosted its stake in Luminar Technologies by 4,481.5% during the first quarter. Bank of Montreal Can now owns 2,488,690 shares of the company's stock worth $38,600,000 after buying an additional 2,434,370 shares during the last quarter. CQS US LLC acquired a new position in Luminar Technologies during the first quarter worth $16,180,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Luminar Technologies during the first quarter worth $15,317,000. BlackRock Inc. boosted its stake in Luminar Technologies by 23.0% during the first quarter. BlackRock Inc. now owns 4,623,810 shares of the company's stock worth $72,272,000 after buying an additional 865,041 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Luminar Technologies in the 1st quarter valued at $9,703,000. Institutional investors and hedge funds own 62.57% of the company's stock.

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Luminar Technologies Price Performance

LAZR opened at $7.34 on Wednesday. The stock's 50-day moving average price is $7.68 and its 200 day moving average price is $8.02. Luminar Technologies, Inc. has a 12-month low of $5.61 and a 12-month high of $18.16. The company has a current ratio of 9.86, a quick ratio of 9.72 and a debt-to-equity ratio of 14.23. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -6.92 and a beta of 1.55.

Insiders Place Their Bets

In related news, CEO Austin Russell purchased 25,000 shares of the business's stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $9.39 per share, for a total transaction of $234,750.00. Following the acquisition, the chief executive officer now directly owns 1,005,000 shares in the company, valued at $9,436,950. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 75,000 shares of company stock worth $711,000 in the last quarter. 43.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on LAZR shares. Cowen upped their price target on Luminar Technologies from $12.00 to $14.00 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. started coverage on Luminar Technologies in a research note on Tuesday, September 20th. They issued an "overweight" rating and a $30.00 price target on the stock. Robert W. Baird decreased their price target on Luminar Technologies from $30.00 to $15.00 in a research note on Wednesday, August 10th. The Goldman Sachs Group upped 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. Finally, Craig Hallum decreased their price target on Luminar Technologies to $8.00 in a research note 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 stock. According to data from MarketBeat.com, Luminar Technologies has a consensus rating of "Moderate Buy" and an average target price of $15.57.

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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