Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 17.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,774,934 shares of the company's stock after buying an additional 1,331,067 shares during the quarter. Geode Capital Management LLC owned approximately 1.78% of Luminar Technologies worth $7,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LAZR. PFG Investments LLC boosted its holdings in shares of Luminar Technologies by 13.9% in the 2nd quarter. PFG Investments LLC now owns 81,894 shares of the company's stock valued at $122,000 after buying an additional 10,000 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Luminar Technologies by 30.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company's stock worth $49,000 after purchasing an additional 12,685 shares during the period. Howard Financial Services LTD. lifted its holdings in shares of Luminar Technologies by 24.0% in the 3rd quarter. Howard Financial Services LTD. now owns 72,425 shares of the company's stock worth $65,000 after purchasing an additional 14,000 shares during the last quarter. Malaga Cove Capital LLC boosted its position in Luminar Technologies by 10.6% during the 2nd quarter. Malaga Cove Capital LLC now owns 148,584 shares of the company's stock valued at $221,000 after purchasing an additional 14,300 shares during the period. Finally, Fore Capital LLC lifted its stake in Luminar Technologies by 50.0% in the second quarter. Fore Capital LLC now owns 45,000 shares of the company's stock valued at $67,000 after buying an additional 15,000 shares during the last quarter. 30.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LAZR shares. Craig Hallum dropped their price objective on shares of Luminar Technologies from $22.50 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, November 12th. The Goldman Sachs Group decreased their target price on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research report on Thursday, November 14th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $30.00 price target on shares of Luminar Technologies in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $15.00 price objective on shares of Luminar Technologies in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Luminar Technologies currently has an average rating of "Hold" and a consensus price target of $50.06.

Luminar Technologies Price Performance

NASDAQ:LAZR traded up $0.52 during midday trading on Friday, hitting $6.66. 4,776,897 shares of the stock were exchanged, compared to its average volume of 2,651,206. Luminar Technologies, Inc. has a one year low of $4.93 and a one year high of $53.48. The business has a 50-day moving average price of $9.50 and a two-hundred day moving average price of $14.71.

Luminar Technologies (NASDAQ:LAZR - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported ($2.40) EPS for the quarter, topping analysts' consensus estimates of ($3.30) by $0.90. The firm had revenue of $15.49 million during the quarter, compared to the consensus estimate of $17.70 million. The firm's quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.95) EPS. Equities research analysts anticipate that Luminar Technologies, Inc. will post -14.2 earnings per share 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.