Mirae Asset Global Investments Co. Ltd. Invests $15.32 Million in Luminar Technologies, Inc. (NASDAQ:LAZR)

Mirae Asset Global Investments Co. Ltd. bought a new position in Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 979,988 shares of the company’s stock, valued at approximately $15,317,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clearwater Capital Advisors LLC grew its stake in Luminar Technologies by 2.3% in the 1st quarter. Clearwater Capital Advisors LLC now owns 40,859 shares of the company’s stock worth $639,000 after acquiring an additional 900 shares during the period. Destiny Wealth Partners LLC grew its stake in Luminar Technologies by 29.0% in the 1st 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 during the period. Raymond James & Associates grew its stake in Luminar Technologies by 6.5% in the 4th quarter. Raymond James & Associates now owns 30,025 shares of the company’s stock worth $508,000 after acquiring an additional 1,829 shares during the period. Steward Partners Investment Advisory LLC grew 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 worth $32,000 after acquiring an additional 2,000 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Luminar Technologies in the 1st quarter worth approximately $32,000. 62.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Luminar Technologies

In other news, CEO Austin Russell purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were purchased at an average price of $10.80 per share, with a total value of $270,000.00. Following the purchase, the chief executive officer now directly owns 930,000 shares of the company’s stock, valued at approximately $10,044,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 150,000 shares of company stock worth $1,383,750. 43.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LAZR has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Luminar Technologies from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Luminar Technologies from $23.00 to $15.00 in a report on Monday, July 18th. Craig Hallum decreased their price target on shares of Luminar Technologies to $8.00 in a report on Monday, August 15th. Cowen lifted their price target on shares of Luminar Technologies to $14.00 in a report on Monday, August 15th. Finally, Cowen lifted their price target on shares of Luminar Technologies from $12.00 to $14.00 in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

Luminar Technologies Stock Performance

NASDAQ:LAZR opened at $8.93 on Monday. The company has a current ratio of 11.60, a quick ratio of 11.44 and a debt-to-equity ratio of 6.89. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -10.15 and a beta of 1.55. The firm’s fifty day simple moving average is $8.11 and its 200 day simple moving average is $10.06. Luminar Technologies, Inc. has a twelve month low of $5.61 and a twelve month high of $23.90.

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.

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

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