Geode Capital Management LLC Has $3.19 Million Stock Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Geode Capital Management LLC decreased its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 591,861 shares of the company's stock after selling 8,183,073 shares during the quarter. Geode Capital Management LLC owned approximately 1.78% of Luminar Technologies worth $3,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LAZR. Barclays PLC lifted its holdings in shares of Luminar Technologies by 469.2% during the third quarter. Barclays PLC now owns 842,288 shares of the company's stock worth $757,000 after buying an additional 694,315 shares during the last quarter. Virtu Financial LLC acquired a new position in Luminar Technologies during the 3rd quarter valued at $316,000. Stifel Financial Corp boosted its holdings in Luminar Technologies by 118.5% in the 3rd quarter. Stifel Financial Corp now owns 141,005 shares of the company's stock valued at $127,000 after purchasing an additional 76,470 shares during the period. SBI Securities Co. Ltd. bought a new stake in Luminar Technologies in the 4th quarter valued at $155,000. Finally, Entropy Technologies LP acquired a new stake in Luminar Technologies in the 4th quarter worth $97,000. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Trading Up 0.3 %

Shares of Luminar Technologies stock traded up $0.01 on Friday, reaching $3.95. 1,078,387 shares of the company were exchanged, compared to its average volume of 1,950,191. The company has a market capitalization of $167.44 million, a price-to-earnings ratio of -0.30 and a beta of 1.86. Luminar Technologies, Inc. has a one year low of $3.30 and a one year high of $34.80. The company has a 50-day moving average of $4.93 and a 200 day moving average of $7.20.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $53.86.

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.