Caz Investments LP Grows Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Caz Investments LP boosted its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 100.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 300,000 shares of the company’s stock after purchasing an additional 150,000 shares during the quarter. Luminar Technologies accounts for 0.2% of Caz Investments LP’s investment portfolio, making the stock its 12th largest position. Caz Investments LP’s holdings in Luminar Technologies were worth $270,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Luminar Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock valued at $2,691,000 after acquiring an additional 425,335 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in Luminar Technologies by 70.5% in the 3rd quarter. Tyler Stone Wealth Management now owns 37,000 shares of the company’s stock valued at $33,000 after purchasing an additional 15,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Luminar Technologies by 30.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 54,452 shares of the company’s stock valued at $49,000 after buying an additional 12,685 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Luminar Technologies by 6.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,155 shares of the company’s stock worth $342,000 after buying an additional 22,400 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Luminar Technologies during the 3rd quarter valued at approximately $141,000. 30.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LAZR shares. Craig Hallum cut their target price on Luminar Technologies from $22.50 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. Westpark Capital restated a “buy” rating and issued a $135.00 price objective on shares of Luminar Technologies in a report on Tuesday, August 6th. Rosenblatt Securities reiterated a “neutral” rating and issued a $30.00 target price on shares of Luminar Technologies in a report on Wednesday, October 2nd. Citigroup decreased their price target on Luminar Technologies from $135.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.06.

Luminar Technologies Trading Down 9.5 %

NASDAQ:LAZR opened at $8.69 on Wednesday. The stock has a fifty day moving average price of $12.71 and a 200 day moving average price of $17.85. Luminar Technologies, Inc. has a 12-month low of $8.63 and a 12-month high of $55.35.

Luminar Technologies (NASDAQ:LAZR) last announced 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 company had revenue of $15.49 million for the quarter, compared to analyst estimates of $17.70 million. During the same period in the prior year, the firm posted ($4.95) earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Luminar Technologies, Inc. will post -14.17 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.