LPL Financial LLC Trims Stake in Luminar Technologies, Inc. (NASDAQ:LAZR)

LPL Financial LLC lowered its holdings in Luminar Technologies, Inc. (NASDAQ:LAZR) by 95.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,435 shares of the company’s stock after selling 308,736 shares during the period. LPL Financial LLC’s holdings in Luminar Technologies were worth $72,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LAZR. Barclays PLC raised its stake in 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Luminar Technologies by 17.9% during the 3rd quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after buying an additional 1,331,067 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Luminar Technologies during the 3rd quarter valued at $316,000. SBI Securities Co. Ltd. bought a new stake in shares of Luminar Technologies during the 4th quarter worth $155,000. Finally, Entropy Technologies LP purchased a new position in Luminar Technologies in the fourth quarter worth $97,000. Institutional investors own 30.99% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered their price target on Luminar Technologies from $3.50 to $2.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.86.

Luminar Technologies Stock Up 0.8 %

Shares of NASDAQ:LAZR opened at $3.94 on Friday. The stock has a market cap of $167.01 million, a PE ratio of -0.30 and a beta of 1.86. The company’s fifty day moving average is $4.95 and its 200 day moving average is $7.29. Luminar Technologies, Inc. has a 52 week low of $3.30 and a 52 week high of $34.80.

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.