Alliancebernstein L.P. Reduces Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Alliancebernstein L.P. reduced its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,828 shares of the company's stock after selling 254,112 shares during the period. Alliancebernstein L.P. owned approximately 0.05% of Luminar Technologies worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LAZR. DnB Asset Management AS purchased a new position in shares of Luminar Technologies during the fourth quarter worth $91,000. Entropy Technologies LP purchased a new position in shares of Luminar Technologies during the fourth quarter worth $97,000. SBI Securities Co. Ltd. purchased a new position in shares of Luminar Technologies during the fourth quarter worth $155,000. Stifel Financial Corp boosted its position in shares of Luminar Technologies by 118.5% during the third quarter. Stifel Financial Corp now owns 141,005 shares of the company's stock worth $127,000 after buying an additional 76,470 shares during the period. Finally, State Street Corp raised its stake in shares of Luminar Technologies by 2.7% in the third quarter. State Street Corp now owns 8,525,374 shares of the company's stock valued at $7,670,000 after acquiring an additional 225,223 shares in the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their price objective on Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Luminar Technologies presently has an average rating of "Hold" and an average price target of $53.86.

Luminar Technologies Stock Down 1.3 %

Luminar Technologies stock traded down $0.05 during midday trading on Monday, reaching $3.82. The company's stock had a trading volume of 1,457,714 shares, compared to its average volume of 1,926,224. The business has a 50-day simple moving average of $5.09 and a 200-day simple moving average of $7.40. The company has a market cap of $161.93 million, a P/E ratio of -0.29 and a beta of 1.86. Luminar Technologies, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $34.80.

About Luminar Technologies

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.