Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Velodyne Lidar, Inc. (NASDAQ:VLDR – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,573,105 shares of the company’s stock, valued at approximately $9,148,000. Mirae Asset Global Investments Co. Ltd. owned 1.72% of Velodyne Lidar as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of Velodyne Lidar by 24.1% during the 4th quarter. Teacher Retirement System of Texas now owns 18,818 shares of the company’s stock valued at $87,000 after purchasing an additional 3,658 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of Velodyne Lidar by 67.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 9,113 shares of the company’s stock worth $44,000 after acquiring an additional 3,667 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Velodyne Lidar by 31.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 25,868 shares of the company’s stock worth $66,000 after acquiring an additional 6,116 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Velodyne Lidar by 11.2% during the 1st quarter. Rhumbline Advisers now owns 69,797 shares of the company’s stock worth $179,000 after acquiring an additional 7,049 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Velodyne Lidar by 45.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 24,405 shares of the company’s stock worth $62,000 after acquiring an additional 7,660 shares in the last quarter. 39.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Velodyne Lidar
In related news, Director Marta R. Thoma sold 5,435,865 shares of Velodyne Lidar stock in a transaction on Friday, July 1st. The stock was sold at an average price of $0.82, for a total transaction of $4,457,409.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Velodyne Lidar news, Director Marta R. Thoma sold 5,435,865 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $0.82, for a total transaction of $4,457,409.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David S. Hall sold 2,260,160 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $0.83, for a total value of $1,875,932.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,456,841 shares of company stock valued at $9,354,674. Insiders own 5.40% of the company’s stock.
Velodyne Lidar Stock Down 5.4 %
Velodyne Lidar (NASDAQ:VLDR – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.18. The firm had revenue of $11.50 million during the quarter, compared to analysts’ expectations of $11.43 million. Velodyne Lidar had a negative return on equity of 65.56% and a negative net margin of 384.36%. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.46) earnings per share. Analysts expect that Velodyne Lidar, Inc. will post -1.08 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on VLDR. Craig Hallum reduced their price objective on Velodyne Lidar to $1.00 in a research note on Monday, August 15th. JPMorgan Chase & Co. started coverage on Velodyne Lidar in a research report on Tuesday. They issued an “underweight” rating for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.98.
Velodyne Lidar Profile
Velodyne Lidar, Inc provides real-time 3D vision for autonomous systems worldwide. It offers surround-view lidar for autonomous vehicles, drones, security, mobile robots, and mapping applications; and solid state lidar for advanced driver assistance systems and autonomous applications. The company also provides Vella Development Kit that provides access to lidar-based perception software paired with sensors; Intelligent Infrastructure Solution for monitoring traffic networks and public spaces to generate real-time data analytics and predictions for enhancing traffic and crowd flow efficiency; and Vella software solution, a data curation software platform.
- Get a free copy of the StockNews.com research report on Velodyne Lidar (VLDR)
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