Malaga Cove Capital LLC Has $64,000 Stock Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Malaga Cove Capital LLC reduced its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 92.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,980 shares of the company's stock after selling 139,098 shares during the quarter. Malaga Cove Capital LLC's holdings in Luminar Technologies were worth $64,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LAZR. Barclays PLC grew its holdings in shares of Luminar Technologies by 469.2% during the 3rd quarter. Barclays PLC now owns 842,288 shares of the company's stock worth $757,000 after purchasing an additional 694,315 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Luminar Technologies during the 4th quarter worth $97,000. SBI Securities Co. Ltd. acquired a new stake in shares of Luminar Technologies during the 4th quarter worth $155,000. DnB Asset Management AS acquired a new stake in shares of Luminar Technologies during the 4th quarter worth $91,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Luminar Technologies during the 4th quarter worth $1,452,000. 30.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.86.

Luminar Technologies Stock Up 5.1%

NASDAQ:LAZR opened at $4.76 on Thursday. The stock's 50-day simple moving average is $4.78 and its 200 day simple moving average is $6.79. The firm has a market capitalization of $201.77 million, a PE ratio of -0.36 and a beta of 2.06. Luminar Technologies, Inc. has a twelve month low of $3.30 and a twelve month high of $32.70.

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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