Vanguard Personalized Indexing Management LLC Takes Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZRFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,269 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds have also made changes to their positions in LAZR. Exchange Traded Concepts LLC increased its holdings in shares of Luminar Technologies by 100.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company’s stock valued at $17,225,000 after acquiring an additional 2,561,252 shares during the last quarter. Vanguard Group Inc. boosted its stake in Luminar Technologies by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,033,655 shares of the company’s stock valued at $109,353,000 after purchasing an additional 543,313 shares during the period. Raymond James & Associates boosted its stake in Luminar Technologies by 39.3% during the 4th quarter. Raymond James & Associates now owns 994,903 shares of the company’s stock valued at $3,353,000 after purchasing an additional 280,775 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Luminar Technologies by 48.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company’s stock valued at $2,407,000 after purchasing an additional 232,024 shares during the period. Finally, Blair William & Co. IL boosted its stake in Luminar Technologies by 56.9% during the 3rd quarter. Blair William & Co. IL now owns 612,249 shares of the company’s stock valued at $2,786,000 after purchasing an additional 221,929 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Luminar Technologies Trading Up 5.5 %

Shares of LAZR stock opened at $1.73 on Friday. The stock has a 50 day moving average of $1.65 and a two-hundred day moving average of $2.30. Luminar Technologies, Inc. has a 12 month low of $1.21 and a 12 month high of $8.32. The company has a market capitalization of $770.93 million, a P/E ratio of -1.26 and a beta of 1.54.

Luminar Technologies (NASDAQ:LAZRGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, hitting analysts’ consensus estimates of ($0.30). The firm had revenue of $20.97 million during the quarter, compared to the consensus estimate of $22.09 million. Sell-side analysts predict that Luminar Technologies, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their target price on Luminar Technologies from $2.00 to $1.50 and set a “sell” rating for the company in a research note on Thursday, February 29th. Rosenblatt Securities decreased their target price on Luminar Technologies from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating and set a $8.00 target price (down previously from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Bank of America restated an “underperform” rating and set a $1.20 target price (down previously from $3.50) on shares of Luminar Technologies in a research note on Wednesday, April 10th. Finally, Citigroup reduced their price objective on Luminar Technologies from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.45.

Read Our Latest Stock Analysis on LAZR

About Luminar Technologies

(Free Report)

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 Advanced Technologies and Services. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors or lidars, 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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