Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Sold by Alliancebernstein L.P.

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Luminar Technologies by 17.9% in the 3rd quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company's stock worth $7,896,000 after acquiring an additional 1,331,067 shares in the last quarter. State Street Corp grew its position 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 purchasing an additional 225,223 shares in the last quarter. Barclays PLC raised 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 acquiring an additional 694,315 shares during the period. Virtu Financial LLC purchased a new position in Luminar Technologies during the third quarter worth about $316,000. Finally, Stifel Financial Corp grew its position in Luminar Technologies by 118.5% in the third quarter. Stifel Financial Corp now owns 141,005 shares of the company's stock worth $127,000 after acquiring an additional 76,470 shares during the period. Institutional investors and hedge funds own 30.99% of the company's stock.

Luminar Technologies Stock Up 0.5 %

Luminar Technologies stock traded up $0.02 during midday trading on Friday, reaching $3.87. The company's stock had a trading volume of 1,913,504 shares, compared to its average volume of 1,921,533. Luminar Technologies, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $34.80. The business has a 50-day simple moving average of $5.15 and a 200-day simple moving average of $7.54. The company has a market cap of $164.05 million, a P/E ratio of -0.29 and a beta of 1.86.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their price objective on shares of Luminar Technologies from $3.50 to $2.00 and set a "sell" rating on the stock in a 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 data from MarketBeat.com, Luminar Technologies currently has an average rating of "Hold" and an average target price of $53.86.

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.