Pictet Asset Management SA Grows Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Pictet Asset Management SA increased its position in Luminar Technologies, Inc. (NASDAQ:LAZRGet Rating) by 15.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,867 shares of the company’s stock after buying an additional 1,607 shares during the quarter. Pictet Asset Management SA’s holdings in Luminar Technologies were worth $70,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Keebeck Alpha LP purchased a new position in shares of Luminar Technologies in the second quarter valued at $181,000. Walleye Capital LLC boosted its stake in shares of Luminar Technologies by 335.2% in the second quarter. Walleye Capital LLC now owns 92,071 shares of the company’s stock valued at $546,000 after purchasing an additional 70,915 shares during the period. State Board of Administration of Florida Retirement System purchased a new position in shares of Luminar Technologies in the second quarter valued at $144,000. MQS Management LLC purchased a new position in shares of Luminar Technologies in the second quarter valued at $59,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Luminar Technologies by 29.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 234,924 shares of the company’s stock valued at $1,393,000 after purchasing an additional 52,850 shares during the period. 62.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LAZR has been the subject of several analyst reports. Craig Hallum decreased their target price on shares of Luminar Technologies to $8.00 in a research note on Monday, August 15th. Robert W. Baird dropped their target price on shares of Luminar Technologies from $30.00 to $15.00 in a report on Wednesday, August 10th. Northland Securities cut shares of Luminar Technologies from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $13.00 to $10.00 in a report on Thursday, September 22nd. Cowen increased their target price on shares of Luminar Technologies from $12.00 to $14.00 in a report on Tuesday, August 9th. Finally, Cowen increased their target price on shares of Luminar Technologies to $14.00 in a report on Monday, August 15th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.57.

Luminar Technologies Stock Up 2.5 %

LAZR stock opened at $7.71 on Friday. The company has a quick ratio of 9.72, a current ratio of 9.86 and a debt-to-equity ratio of 14.23. Luminar Technologies, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $18.20. The firm’s 50-day simple moving average is $7.77 and its 200 day simple moving average is $8.06. The stock has a market cap of $2.80 billion, a PE ratio of -7.27 and a beta of 1.55.

Insider Buying and Selling at Luminar Technologies

In related news, CEO Austin Russell bought 25,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were purchased at an average price of $9.87 per share, with a total value of $246,750.00. Following the purchase, the chief executive officer now owns 1,030,000 shares in the company, valued at $10,166,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 75,000 shares of company stock valued at $711,000. Company insiders own 43.25% of the company’s stock.

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.

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

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