XTX Topco Ltd Trims Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Key Points

• XTX Topco Ltd reduced its stake in Luminar Technologies by 86.4% during the first quarter, now owning approximately 23,046 shares worth $124,000.
• Several institutional investors have increased their positions in Luminar, with CWM LLC growing its position by 1,194.5% in the same quarter.
• JPMorgan Chase & Co. has reaffirmed a "neutral" rating on Luminar Technologies, which has a consensus rating of "Hold" and an average target price of $40.33.

XTX Topco Ltd cut its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 86.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,046 shares of the company's stock after selling 146,269 shares during the quarter. XTX Topco Ltd owned approximately 0.05% of Luminar Technologies worth $124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LAZR. BNP Paribas Financial Markets purchased a new stake in shares of Luminar Technologies in the 4th quarter worth about $40,000. GAMMA Investing LLC grew its position in Luminar Technologies by 1,077.9% during the 1st quarter. GAMMA Investing LLC now owns 9,470 shares of the company's stock valued at $51,000 after purchasing an additional 8,666 shares during the last quarter. CWM LLC grew its position in Luminar Technologies by 1,194.5% during the 1st quarter. CWM LLC now owns 9,877 shares of the company's stock valued at $53,000 after purchasing an additional 9,114 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in Luminar Technologies during the 1st quarter valued at about $108,000. Finally, Brevan Howard Capital Management LP grew its position in Luminar Technologies by 199.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 32,160 shares of the company's stock valued at $173,000 after purchasing an additional 21,416 shares during the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Luminar Technologies in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.33.

Luminar Technologies Stock Performance

LAZR opened at $2.46 on Friday. The stock has a market capitalization of $115.32 million, a P/E ratio of -0.88 and a beta of 1.96. The company's 50-day simple moving average is $2.95 and its two-hundred day simple moving average is $4.22. Luminar Technologies, Inc. has a 52-week low of $2.32 and a 52-week high of $18.60.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.30). The firm had revenue of $15.63 million for the quarter, compared to analysts' expectations of $17.27 million. During the same quarter in the previous year, the business earned ($0.18) EPS. The firm's revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts forecast that Luminar Technologies, Inc. will post -14.2 EPS for the current fiscal year.

Luminar Technologies Profile

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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