Luminar Technologies, Inc. (NASDAQ:LAZR) Holdings Trimmed by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its position in shares of Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,417 shares of the company’s stock after selling 13,392 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Luminar Technologies were worth $1,045,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Luminar Technologies by 189.4% during the second quarter. State Street Corp now owns 4,570,495 shares of the company’s stock valued at $27,103,000 after purchasing an additional 2,991,427 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Luminar Technologies by 148.7% during the second quarter. Northern Trust Corp now owns 2,724,014 shares of the company’s stock valued at $16,154,000 after purchasing an additional 1,628,847 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Luminar Technologies by 23.0% during the first quarter. BlackRock Inc. now owns 4,623,810 shares of the company’s stock valued at $72,272,000 after purchasing an additional 865,041 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in shares of Luminar Technologies by 1,143.5% during the third quarter. Mizuho Markets Americas LLC now owns 679,939 shares of the company’s stock valued at $4,953,000 after purchasing an additional 625,261 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Luminar Technologies during the first quarter valued at $9,703,000. Institutional investors own 35.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LAZR shares. Citigroup reduced their target price on Luminar Technologies from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, December 7th. Rosenblatt Securities started coverage on Luminar Technologies in a research note on Monday, October 24th. They issued a “neutral” rating and a $8.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Luminar Technologies from $30.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, December 20th. Westpark Capital started coverage on Luminar Technologies in a research note on Tuesday, November 1st. They issued a “buy” rating and a $14.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on Luminar Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

Luminar Technologies Stock Performance

Shares of NASDAQ LAZR opened at $6.13 on Friday. The company has a debt-to-equity ratio of 14.23, a quick ratio of 9.72 and a current ratio of 9.86. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -5.78 and a beta of 1.63. The business’s 50-day simple moving average is $6.56 and its 200-day simple moving average is $7.37. Luminar Technologies, Inc. has a 52 week low of $3.91 and a 52 week high of $16.80.

Luminar Technologies (NASDAQ:LAZR – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The company had revenue of $12.79 million for the quarter, compared to analyst estimates of $9.15 million. Luminar Technologies had a negative net margin of 894.68% and a negative return on equity of 328.76%. As a group, equities research analysts expect that Luminar Technologies, Inc. will post -1.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jun Hong Heng acquired 9,020 shares of the stock in a transaction dated Tuesday, December 13th. The shares were acquired at an average price of $7.44 per share, with a total value of $67,108.80. Following the acquisition, the director now owns 46,503 shares in the company, valued at approximately $345,982.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 43.25% of the stock is currently owned by insiders.

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.