New York State Common Retirement Fund Trims Stake in Luminar Technologies, Inc. (NASDAQ:LAZR)

New York State Common Retirement Fund decreased its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 93.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,516 shares of the company's stock after selling 105,239 shares during the period. New York State Common Retirement Fund's holdings in Luminar Technologies were worth $40,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 1,331,067 shares during the last quarter. Barclays PLC boosted its position in Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company's stock worth $757,000 after purchasing an additional 694,315 shares during the last quarter. XTX Topco Ltd grew its stake in Luminar Technologies by 819.6% in the 3rd quarter. XTX Topco Ltd now owns 649,175 shares of the company's stock valued at $584,000 after purchasing an additional 578,582 shares during the period. Main Management ETF Advisors LLC purchased a new stake in shares of Luminar Technologies during the 3rd quarter valued at $457,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Luminar Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company's stock worth $2,691,000 after purchasing an additional 425,335 shares during the period. Institutional investors own 30.99% of the company's stock.

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Luminar Technologies Price Performance

LAZR stock traded down $0.33 during mid-day trading on Monday, reaching $4.66. 945,424 shares of the company traded hands, compared to its average volume of 2,236,557. Luminar Technologies, Inc. has a 52-week low of $4.47 and a 52-week high of $34.80. The company has a market capitalization of $155.24 million, a P/E ratio of -0.35 and a beta of 1.74. The company has a fifty day moving average price of $6.10 and a 200-day moving average price of $9.59.

Analysts Set New Price Targets

Several analysts have commented on LAZR shares. The Goldman Sachs Group lowered their price objective on shares of Luminar Technologies from $11.25 to $7.50 and set a "sell" rating on the stock in a research report on Thursday, November 14th. Craig Hallum lowered their price objective on Luminar Technologies from $22.50 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $50.06.

About Luminar Technologies

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.