Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC raised its stake in Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) by 8,000.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,025 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Luminar Technologies were worth $32,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LAZR. North Star Investment Management Corp. lifted its holdings in shares of Luminar Technologies by 303.1% during the 4th quarter. North Star Investment Management Corp. now owns 6,038,116 shares of the company’s stock valued at $102,105,000 after acquiring an additional 4,540,265 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Luminar Technologies by 16.3% during the 4th quarter. Allianz Asset Management GmbH now owns 2,992,614 shares of the company’s stock valued at $50,605,000 after acquiring an additional 418,600 shares in the last quarter. Vident Investment Advisory LLC lifted its holdings in shares of Luminar Technologies by 18.6% during the 4th quarter. Vident Investment Advisory LLC now owns 1,661,945 shares of the company’s stock valued at $28,103,000 after acquiring an additional 260,237 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Luminar Technologies by 43.7% during the 4th quarter. Natixis Advisors L.P. now owns 807,926 shares of the company’s stock valued at $13,662,000 after acquiring an additional 245,886 shares in the last quarter. Finally, Gemsstock Ltd. acquired a new position in shares of Luminar Technologies during the 4th quarter valued at $3,548,000. Institutional investors and hedge funds own 58.54% of the company’s stock.

Luminar Technologies Price Performance

LAZR opened at $7.52 on Friday. The company has a 50-day moving average of $7.35 and a 200-day moving average of $11.30. The company has a market capitalization of $2.63 billion, a P/E ratio of -10.36 and a beta of 1.70. Luminar Technologies, Inc. has a 1-year low of $5.61 and a 1-year high of $23.90. 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:LAZR – Get Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.03). The company had revenue of $6.86 million during the quarter, compared to the consensus estimate of $9.59 million. Luminar Technologies had a negative return on equity of 73.24% and a negative net margin of 747.76%. During the same period in the previous year, the firm posted ($0.09) EPS. Equities analysts expect that Luminar Technologies, Inc. will post -1 EPS for the current fiscal year.

Insider Activity at Luminar Technologies

In other Luminar Technologies news, CEO Austin Russell acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average price of $7.21 per share, with a total value of $180,250.00. Following the transaction, the chief executive officer now directly owns 780,000 shares in the company, valued at $5,623,800. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 43.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Luminar Technologies from $31.00 to $24.00 in a report on Friday, May 6th. Northland Securities dropped their price target on shares of Luminar Technologies from $23.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. The Goldman Sachs Group dropped their price target on shares of Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Luminar Technologies from $23.00 to $15.00 in a research note on Monday, July 18th. Finally, Credit Suisse Group started coverage on shares of Luminar Technologies in a research note on Thursday, April 14th. They set an “outperform” rating and a $22.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.78.

Luminar Technologies Company 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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