EP Wealth Advisors LLC Takes $731,000 Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

EP Wealth Advisors LLC purchased a new stake in Luminar Technologies, Inc. (NASDAQ:LAZR – Get Rating) in the 3rd quarter, Holdings Channel reports. The firm purchased 100,305 shares of the company’s stock, valued at approximately $731,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its stake in Luminar Technologies by 17.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,762 shares of the company’s stock worth $512,000 after purchasing an additional 4,925 shares during the period. HighTower Advisors LLC boosted its stake in Luminar Technologies by 4.7% in the 1st quarter. HighTower Advisors LLC now owns 92,048 shares of the company’s stock worth $1,444,000 after purchasing an additional 4,153 shares during the period. Citigroup Inc. boosted its stake in Luminar Technologies by 30.5% in the 1st quarter. Citigroup Inc. now owns 146,881 shares of the company’s stock worth $2,296,000 after purchasing an additional 34,316 shares during the period. BlackRock Inc. boosted its stake in Luminar Technologies by 23.0% in the 1st quarter. BlackRock Inc. now owns 4,623,810 shares of the company’s stock worth $72,272,000 after purchasing an additional 865,041 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Luminar Technologies by 1.0% in the 1st quarter. Allianz Asset Management GmbH now owns 3,023,514 shares of the company’s stock worth $47,258,000 after purchasing an additional 30,900 shares during the period. Institutional investors and hedge funds own 35.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LAZR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Luminar Technologies from $15.00 to $14.00 in a research note on Wednesday, March 1st. Citigroup cut their price target on shares of Luminar Technologies from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Luminar Technologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, March 6th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $8.00 price target on shares of Luminar Technologies in a research report on Wednesday, March 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Luminar Technologies Stock Down 1.2 %

Shares of LAZR stock opened at $8.48 on Friday. The company has a debt-to-equity ratio of 14.23, a quick ratio of 7.04 and a current ratio of 7.15. The firm’s 50-day moving average is $7.23 and its 200-day moving average is $7.35. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -6.78 and a beta of 1.63. Luminar Technologies, Inc. has a 52-week low of $3.91 and a 52-week high of $16.62.

Luminar Technologies Company Profile

(Get Rating)

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.