Vanguard Group Inc. Acquires 543,313 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Vanguard Group Inc. grew its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,033,655 shares of the company's stock after buying an additional 543,313 shares during the period. Vanguard Group Inc. owned approximately 5.98% of Luminar Technologies worth $109,353,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. American International Group Inc. raised its holdings in shares of Luminar Technologies by 1.5% during the fourth quarter. American International Group Inc. now owns 118,820 shares of the company's stock valued at $588,000 after purchasing an additional 1,756 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Luminar Technologies by 13.7% during the second quarter. PNC Financial Services Group Inc. now owns 14,901 shares of the company's stock valued at $103,000 after purchasing an additional 1,799 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Luminar Technologies by 16.3% during the fourth quarter. Lazard Asset Management LLC now owns 14,072 shares of the company's stock valued at $69,000 after purchasing an additional 1,968 shares during the last quarter. Amundi raised its holdings in shares of Luminar Technologies by 19.6% during the fourth quarter. Amundi now owns 12,676 shares of the company's stock valued at $66,000 after purchasing an additional 2,074 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Luminar Technologies by 5.5% during the first quarter. FMR LLC now owns 40,376 shares of the company's stock valued at $262,000 after purchasing an additional 2,102 shares during the last quarter. 30.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LAZR shares. Rosenblatt Securities cut their target price on shares of Luminar Technologies from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $4.00 target price (down from $11.00) on shares of Luminar Technologies in a research report on Wednesday, January 17th. Bank of America cut their target price on shares of Luminar Technologies from $4.00 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $8.00 price target (down from $20.00) on shares of Luminar Technologies in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group dropped their target price on shares of Luminar Technologies from $2.00 to $1.50 and set a "sell" rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.38.

Luminar Technologies Trading Up 1.0 %

Shares of NASDAQ:LAZR traded up $0.02 during trading on Thursday, reaching $2.01. The stock had a trading volume of 8,396,271 shares, compared to its average volume of 7,810,665. The company has a market capitalization of $848.00 million, a P/E ratio of -1.37 and a beta of 1.48. The firm's 50-day simple moving average is $2.28 and its 200 day simple moving average is $2.96. Luminar Technologies, Inc. has a one year low of $1.63 and a one year high of $8.32.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $22.11 million for the quarter, compared to analysts' expectations of $27.25 million. Equities research analysts forecast that Luminar Technologies, Inc. will post -1.01 earnings per share for the current fiscal year.

Luminar Technologies Company 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.