Vanguard Group Inc. Purchases 1,671,708 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

Vanguard Group Inc. grew its position in Luminar Technologies, Inc. (NASDAQ:LAZR - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,705,363 shares of the company's stock after acquiring an additional 1,671,708 shares during the period. Vanguard Group Inc. owned about 6.09% of Luminar Technologies worth $86,627,000 at the end of the most recent quarter.

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Several other institutional investors also recently modified their holdings of LAZR. Exchange Traded Concepts LLC grew its holdings in Luminar Technologies by 100.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,111,388 shares of the company's stock worth $17,225,000 after purchasing an additional 2,561,252 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Luminar Technologies by 4.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,850,974 shares of the company's stock worth $6,238,000 after acquiring an additional 86,766 shares during the period. Raymond James & Associates increased its holdings in shares of Luminar Technologies by 39.3% during the 4th quarter. Raymond James & Associates now owns 994,903 shares of the company's stock worth $3,353,000 after acquiring an additional 280,775 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Luminar Technologies by 48.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 714,135 shares of the company's stock valued at $2,407,000 after acquiring an additional 232,024 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Luminar Technologies by 36.3% during the 4th quarter. Vontobel Holding Ltd. now owns 673,533 shares of the company's stock valued at $2,270,000 after purchasing an additional 179,216 shares during the last quarter. 30.99% of the stock is currently owned by institutional investors and hedge funds.

Luminar Technologies Trading Up 4.1 %

NASDAQ LAZR opened at $1.52 on Monday. The company has a market cap of $677.34 million, a price-to-earnings ratio of -1.11 and a beta of 1.62. The company has a 50 day moving average of $1.56 and a 200-day moving average of $2.06. Luminar Technologies, Inc. has a 1-year low of $1.21 and a 1-year high of $8.32.

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Luminar Technologies (NASDAQ:LAZR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). The company had revenue of $20.97 million during the quarter, compared to analyst estimates of $22.09 million. On average, equities research analysts forecast that Luminar Technologies, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of Luminar Technologies from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Thursday, May 9th. Bank of America restated an "underperform" rating and set a $1.20 price objective (down previously from $3.50) on shares of Luminar Technologies in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $8.00 target price (down previously from $20.00) on shares of Luminar Technologies in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.45.

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View Our Latest Research Report on LAZR

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.

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