Rhumbline Advisers Trims Holdings in Luminar Technologies, Inc. (NASDAQ:LAZR)

Rhumbline Advisers cut its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 92.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,214 shares of the company's stock after selling 378,073 shares during the period. Rhumbline Advisers owned about 0.09% of Luminar Technologies worth $163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Entropy Technologies LP purchased a new position in Luminar Technologies in the 4th quarter valued at about $97,000. Virtu Financial LLC purchased a new position in Luminar Technologies in the 3rd quarter valued at about $316,000. Barclays PLC lifted its holdings in Luminar Technologies by 469.2% in the 3rd quarter. Barclays PLC now owns 842,288 shares of the company's stock valued at $757,000 after purchasing an additional 694,315 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $7,896,000 after purchasing an additional 1,331,067 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in Luminar Technologies by 32,352.8% in the 3rd quarter. LRI Investments LLC now owns 162,264 shares of the company's stock valued at $146,000 after purchasing an additional 161,764 shares in the last quarter. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group dropped their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating for the company in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $50.06.

Remove Ads

Luminar Technologies Stock Performance

LAZR traded up $0.37 on Friday, reaching $5.05. 701,029 shares of the company's stock were exchanged, compared to its average volume of 2,130,128. The company's 50 day moving average is $6.03 and its 200-day moving average is $9.38. The company has a market cap of $168.23 million, a price-to-earnings ratio of -0.38 and a beta of 1.74. Luminar Technologies, Inc. has a twelve month low of $4.47 and a twelve month high of $34.80.

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.