Arizona State Retirement System Has $769,000 Stock Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Arizona State Retirement System increased its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,191 shares of the company’s stock after purchasing an additional 2,543 shares during the period. Arizona State Retirement System’s holdings in Luminar Technologies were worth $769,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in Luminar Technologies by 2,609.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,005 shares of the company’s stock worth $33,000 after purchasing an additional 1,931 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in 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 acquiring an additional 2,000 shares in the last quarter. Destiny Wealth Partners LLC boosted its holdings in Luminar Technologies by 29.0% in the first quarter. Destiny Wealth Partners LLC now owns 5,161 shares of the company’s stock worth $81,000 after acquiring an additional 1,161 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Luminar Technologies by 102.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,699 shares of the company’s stock worth $96,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. bought a new position in Luminar Technologies in the fourth quarter worth approximately $98,000. Institutional investors and hedge funds own 58.54% of the company’s stock.

Luminar Technologies Price Performance

Shares of Luminar Technologies stock opened at $7.20 on Wednesday. Luminar Technologies, Inc. has a one year low of $5.61 and a one year high of $23.90. The stock’s fifty day moving average is $7.43 and its 200 day moving average is $11.38. The stock has a market cap of $2.52 billion, a P/E ratio of -10.00 and a beta of 1.70. The company has a debt-to-equity ratio of 4.92, a quick ratio of 15.85 and a current ratio of 16.06.

Luminar Technologies (NASDAQ:LAZRGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The firm had revenue of $6.86 million for the quarter, compared to analysts’ expectations of $9.59 million. Luminar Technologies had a negative net margin of 747.76% and a negative return on equity of 73.24%. During the same quarter in the previous year, the business earned ($0.09) EPS. Sell-side analysts anticipate that Luminar Technologies, Inc. will post -1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Austin Russell purchased 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average price of $7.21 per share, with a total value of $180,250.00. Following the completion of the purchase, the chief executive officer now owns 780,000 shares of the company’s stock, valued at approximately $5,623,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 43.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup dropped their target price on Luminar Technologies from $31.00 to $24.00 in a report on Friday, May 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Luminar Technologies from $23.00 to $15.00 in a research report on Monday, July 18th. Northland Securities reduced their price target on Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. The Goldman Sachs Group reduced their target price on Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, June 1st. Finally, Credit Suisse Group assumed coverage on Luminar Technologies in a research report on Thursday, April 14th. They set an “outperform” rating and a $22.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.78.

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.

See Also

Institutional Ownership by Quarter for Luminar Technologies (NASDAQ:LAZR)

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