Quantbot Technologies LP purchased a new position in Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 426,901 shares of the company's stock, valued at approximately $2,531,000.
Several other institutional investors have also bought and sold shares of the business. Avidian Wealth Solutions LLC lifted its position in Luminar Technologies by 92.6% in the second quarter. Avidian Wealth Solutions LLC now owns 52,000 shares of the company's stock worth $308,000 after buying an additional 25,000 shares during the last quarter. Bridgewater Associates LP grew its holdings in Luminar Technologies by 22.3% during the 2nd quarter. Bridgewater Associates LP now owns 139,014 shares of the company's stock valued at $824,000 after purchasing an additional 25,367 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Luminar Technologies in the 2nd quarter worth about $144,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Luminar Technologies during the first quarter valued at approximately $15,317,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Luminar Technologies by 60.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,430 shares of the company's stock worth $132,000 after buying an additional 3,192 shares during the period. Institutional investors own 62.57% of the company's stock.
Get Luminar Technologies alerts:Luminar Technologies Price Performance
Shares of NASDAQ LAZR opened at $7.66 on Thursday. Luminar Technologies, Inc. has a 1-year low of $5.61 and a 1-year high of $18.16. The business has a fifty day moving average price of $7.60 and a 200 day moving average price of $8.00. The company has a debt-to-equity ratio of 14.23, a quick ratio of 9.72 and a current ratio of 9.86.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on LAZR. Robert W. Baird lowered their target price on shares of Luminar Technologies from $30.00 to $15.00 in a research note on Wednesday, August 10th. Cowen raised their target price on shares of Luminar Technologies to $14.00 in a research report on Monday, August 15th. Cowen boosted their price target on Luminar Technologies from $12.00 to $14.00 in a report on Tuesday, August 9th. The Goldman Sachs Group raised their price objective on Luminar Technologies from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 4th. Finally, JPMorgan Chase & Co. initiated coverage on Luminar Technologies in a report on Tuesday, September 20th. They issued an "overweight" rating and a $30.00 target price for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Luminar Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $15.57.Insiders Place Their Bets
In other news, CEO Austin Russell purchased 25,000 shares of the business's stock in a transaction on Friday, September 9th. The shares were acquired at an average cost of $9.18 per share, with a total value of $229,500.00. Following the completion of the acquisition, the chief executive officer now owns 980,000 shares of the company's stock, valued at $8,996,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 75,000 shares of company stock worth $711,000. 43.25% of the stock is owned by corporate insiders.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Luminar Technologies (LAZR)
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