Creative Planning Trims Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Creative Planning cut its holdings in shares of Luminar Technologies, Inc. (NASDAQ:LAZR) by 40.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,499 shares of the company’s stock after selling 31,998 shares during the quarter. Creative Planning’s holdings in Luminar Technologies were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LAZR. Vanguard Group Inc. grew its stake in shares of Luminar Technologies by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 27,024,843 shares of the company’s stock worth $53,239,000 after purchasing an additional 1,319,480 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Luminar Technologies during the 1st quarter worth approximately $214,000. Price T Rowe Associates Inc. MD grew its stake in shares of Luminar Technologies by 30.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 149,030 shares of the company’s stock worth $294,000 after purchasing an additional 34,566 shares during the period. Virtu Financial LLC acquired a new stake in shares of Luminar Technologies during the 1st quarter worth approximately $163,000. Finally, American International Group Inc. grew its stake in Luminar Technologies by 6.0% in the 1st quarter. American International Group Inc. now owns 143,517 shares of the company’s stock valued at $283,000 after acquiring an additional 8,089 shares during the period. 30.99% of the stock is owned by hedge funds and other institutional investors.

Luminar Technologies Stock Performance

Shares of LAZR stock opened at $1.05 on Thursday. The stock’s fifty day moving average is $0.85 and its two-hundred day moving average is $1.25. The firm has a market capitalization of $518.45 million, a P/E ratio of -1.18 and a beta of 1.61. Luminar Technologies, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $3.69.

Luminar Technologies (NASDAQ:LAZR) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $15.49 million during the quarter, compared to analysts’ expectations of $17.70 million. During the same quarter in the previous year, the business posted ($0.33) EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, equities analysts forecast that Luminar Technologies, Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LAZR shares. Westpark Capital reissued a “buy” rating and issued a $9.00 price target on shares of Luminar Technologies in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $2.00 price target on shares of Luminar Technologies in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $1.00 price target on shares of Luminar Technologies in a research note on Tuesday, September 10th. Craig Hallum dropped their price target on shares of Luminar Technologies from $1.50 to $1.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Luminar Technologies from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.40.

About Luminar Technologies

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.