Luminar Technologies, Inc. (NASDAQ:LAZR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 92.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,214 shares of the company’s stock after selling 378,073 shares during the period. Rhumbline Advisers owned about 0.09% of Luminar Technologies worth $163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Luminar Technologies by 17.9% in the third quarter. Geode Capital Management LLC now owns 8,774,934 shares of the company’s stock valued at $7,896,000 after purchasing an additional 1,331,067 shares in the last quarter. Barclays PLC increased its stake in shares of Luminar Technologies by 469.2% in the third quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after acquiring an additional 694,315 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Luminar Technologies by 819.6% in the third quarter. XTX Topco Ltd now owns 649,175 shares of the company’s stock worth $584,000 after acquiring an additional 578,582 shares during the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Luminar Technologies in the third quarter worth $457,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Luminar Technologies by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,991,409 shares of the company’s stock worth $2,691,000 after acquiring an additional 425,335 shares during the last quarter. Institutional investors and hedge funds own 30.99% of the company’s stock.

Analyst Ratings Changes

LAZR has been the topic of a number of research reports. Craig Hallum dropped their price target on shares of Luminar Technologies from $22.50 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.06.

Luminar Technologies Price Performance

Luminar Technologies stock opened at $4.66 on Tuesday. The company has a market capitalization of $155.24 million, a price-to-earnings ratio of -0.35 and a beta of 1.74. Luminar Technologies, Inc. has a one year low of $4.47 and a one year high of $34.80. The company’s fifty day moving average price is $6.08 and its two-hundred day moving average price is $9.52.

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.