Velodyne Lidar, Inc. (NASDAQ:VLDR) Shares Acquired by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Velodyne Lidar, Inc. (NASDAQ:VLDRGet Rating) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,116,440 shares of the company’s stock after purchasing an additional 61,792 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.96% of Velodyne Lidar worth $2,004,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. SG Americas Securities LLC grew its position in shares of Velodyne Lidar by 88.5% in the third quarter. SG Americas Securities LLC now owns 171,812 shares of the company’s stock valued at $163,000 after purchasing an additional 80,676 shares during the last quarter. Truist Financial Corp grew its position in shares of Velodyne Lidar by 37.6% in the third quarter. Truist Financial Corp now owns 93,475 shares of the company’s stock valued at $89,000 after purchasing an additional 25,550 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Velodyne Lidar by 1,427,111.6% in the second quarter. Federated Hermes Inc. now owns 984,776 shares of the company’s stock valued at $940,000 after purchasing an additional 984,707 shares during the last quarter. Legal & General Group Plc grew its position in shares of Velodyne Lidar by 53.0% in the second quarter. Legal & General Group Plc now owns 71,750 shares of the company’s stock valued at $69,000 after purchasing an additional 24,868 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Velodyne Lidar by 557.6% during the second quarter. Goldman Sachs Group Inc. now owns 449,600 shares of the company’s stock worth $429,000 after acquiring an additional 381,227 shares during the last quarter. 26.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Virginia Boulet purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 30th. The shares were purchased at an average price of $0.99 per share, with a total value of $29,700.00. Following the purchase, the director now directly owns 243,028 shares of the company’s stock, valued at approximately $240,597.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 26,634 shares of company stock valued at $26,580. Company insiders own 5.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Westpark Capital assumed coverage on shares of Velodyne Lidar in a research report on Tuesday, November 1st. They set an “underperform” rating on the stock. The Goldman Sachs Group decreased their target price on shares of Velodyne Lidar from $1.50 to $1.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 11th. Oppenheimer restated a “market perform” rating on shares of Velodyne Lidar in a research report on Wednesday, November 9th. Citigroup decreased their price target on shares of Velodyne Lidar from $1.70 to $1.30 and set a “neutral” rating on the stock in a report on Wednesday, December 7th. Finally, Craig Hallum upgraded shares of Velodyne Lidar from a “sell” rating to a “hold” rating and decreased their price target for the company from $1.00 to $0.85 in a report on Wednesday, November 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Velodyne Lidar has an average rating of “Hold” and an average target price of $2.26.

Velodyne Lidar Trading Up 3.8 %

Shares of VLDR stock opened at $0.95 on Friday. The company’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.04. Velodyne Lidar, Inc. has a 52 week low of $0.71 and a 52 week high of $4.87. The company has a market cap of $226.06 million, a PE ratio of -1.07 and a beta of 1.27.

Velodyne Lidar (NASDAQ:VLDRGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.13. Velodyne Lidar had a negative net margin of 384.34% and a negative return on equity of 64.20%. The business had revenue of $9.64 million for the quarter, compared to the consensus estimate of $9.40 million. Equities research analysts expect that Velodyne Lidar, Inc. will post -0.79 EPS for the current fiscal year.

About Velodyne Lidar

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Velodyne Lidar, Inc provides real-time 3D vision for autonomous systems worldwide. It offers surround-view lidar for autonomous vehicles, drones, security, mobile robots, and mapping applications; and solid state lidar for advanced driver assistance systems and autonomous applications. The company also provides Vella Development Kit that provides access to lidar-based perception software paired with sensors; Intelligent Infrastructure Solution for monitoring traffic networks and public spaces to generate real-time data analytics and predictions for enhancing traffic and crowd flow efficiency; and Vella software solution, a data curation software platform.

Further Reading

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Institutional Ownership by Quarter for Velodyne Lidar (NASDAQ:VLDR)

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