US Bancorp DE Acquires 6,118 Shares of Luminar Technologies, Inc. (NASDAQ:LAZR)

US Bancorp DE boosted its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR) by 86.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,227 shares of the company’s stock after buying an additional 6,118 shares during the quarter. US Bancorp DE’s holdings in Luminar Technologies were worth $86,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Pitcairn Co. raised its holdings in Luminar Technologies by 7.4% during the 4th quarter. Pitcairn Co. now owns 29,202 shares of the company’s stock worth $145,000 after purchasing an additional 2,015 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in Luminar Technologies during the 1st quarter worth approximately $71,825,000,000. Vanguard Personalized Indexing Management LLC raised its holdings in Luminar Technologies by 36.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,509 shares of the company’s stock worth $87,000 after purchasing an additional 4,673 shares during the last quarter. True Capital Management acquired a new stake in shares of Luminar Technologies during the 4th quarter worth approximately $498,000. Finally, Asset Management Corp IL ADV bought a new stake in shares of Luminar Technologies in the 1st quarter valued at $69,000. Institutional investors own 60.82% of the company’s stock.

Insider Buying and Selling

In related news, insider Alan Prescott sold 37,433 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $7.21, for a total value of $269,891.93. Following the transaction, the insider now directly owns 1,509,453 shares of the company’s stock, valued at approximately $10,883,156.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Luminar Technologies news, CFO Thomas Fennimore sold 16,543 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $7.21, for a total transaction of $119,275.03. Following the sale, the chief financial officer now directly owns 711,004 shares of the company’s stock, valued at $5,126,338.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alan Prescott sold 37,433 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $7.21, for a total transaction of $269,891.93. Following the sale, the insider now directly owns 1,509,453 shares in the company, valued at $10,883,156.13. The disclosure for this sale can be found here. 29.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LAZR has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Luminar Technologies from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 16th. TD Cowen lowered their price objective on shares of Luminar Technologies from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, May 10th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $6.00 price objective on shares of Luminar Technologies in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.94.

Luminar Technologies Price Performance

NASDAQ LAZR opened at $5.76 on Friday. Luminar Technologies, Inc. has a 1 year low of $3.91 and a 1 year high of $10.55. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -3.84 and a beta of 1.53. The company has a fifty day moving average price of $6.64 and a 200-day moving average price of $6.76.

Luminar Technologies (NASDAQ:LAZR) last posted its earnings results on Tuesday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.04). Luminar Technologies had a negative return on equity of 8,821.02% and a negative net margin of 1,008.66%. The firm had revenue of $16.20 million during the quarter, compared to the consensus estimate of $15.93 million. On average, research analysts anticipate that Luminar Technologies, Inc. will post -1.32 EPS for the current fiscal year.

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.