Geode Capital Management LLC Grows Stock Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Geode Capital Management LLC lifted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 17.9% during the third quarter, Holdings Channel reports. The fund owned 8,774,934 shares of the company’s stock after purchasing an additional 1,331,067 shares during the quarter. Geode Capital Management LLC’s holdings in Luminar Technologies were worth $7,896,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in Luminar Technologies by 2.7% during the third quarter. State Street Corp now owns 8,525,374 shares of the company’s stock worth $7,670,000 after acquiring an additional 225,223 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Luminar Technologies by 16.6% during the third 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 last quarter. Barclays PLC grew its position in shares of Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock valued at $757,000 after purchasing an additional 694,315 shares during the period. XTX Topco Ltd increased its stake in Luminar Technologies by 819.6% in the third 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 last quarter. Finally, Blair William & Co. IL lifted its position in Luminar Technologies by 51.7% during the second quarter. Blair William & Co. IL now owns 605,735 shares of the company’s stock worth $903,000 after buying an additional 206,512 shares during the period. Institutional investors and hedge funds own 30.99% of the company’s stock.

Analyst Upgrades and Downgrades

LAZR has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $15.00 price target on shares of Luminar Technologies in a research report on Tuesday, September 10th. Rosenblatt Securities restated a “neutral” rating and issued a $30.00 target price on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Craig Hallum decreased their price target on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group dropped their price target on shares of Luminar Technologies from $11.25 to $7.50 and set a “sell” rating on the stock in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.06.

Luminar Technologies Stock Up 14.1 %

NASDAQ:LAZR opened at $6.14 on Friday. Luminar Technologies, Inc. has a 1-year low of $4.93 and a 1-year high of $53.48. The firm has a market capitalization of $204.54 million, a price-to-earnings ratio of -0.46 and a beta of 1.53. The stock has a fifty day simple moving average of $9.62 and a 200 day simple moving average of $14.77.

Luminar Technologies (NASDAQ:LAZR) last released 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 analyst estimates of $17.70 million. During the same quarter in the prior year, the company posted ($4.95) EPS. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Equities analysts predict that Luminar Technologies, Inc. will post -14.2 earnings per share for the current year.

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.