Coatue Management LLC boosted its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 900.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,590,058 shares of the company’s stock after purchasing an additional 1,431,112 shares during the period. Coatue Management LLC owned approximately 0.47% of Luminar Technologies worth $34,902,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LAZR. CAPROCK Group Inc. acquired a new stake in Luminar Technologies during the 2nd quarter valued at $3,357,000. Vident Investment Advisory LLC boosted its holdings in Luminar Technologies by 141.9% during the first quarter. Vident Investment Advisory LLC now owns 974,249 shares of the company’s stock valued at $23,684,000 after acquiring an additional 571,533 shares during the period. Swiss National Bank bought a new stake in Luminar Technologies during the second quarter valued at about $7,944,000. Guggenheim Capital LLC bought a new stake in Luminar Technologies during the first quarter valued at about $1,546,000. Finally, Credit Suisse AG lifted its stake in shares of Luminar Technologies by 539.1% in the first quarter. Credit Suisse AG now owns 237,749 shares of the company’s stock valued at $5,780,000 after buying an additional 200,550 shares during the period. Hedge funds and other institutional investors own 16.83% of the company’s stock.
Shares of NASDAQ:LAZR traded down $0.08 during midday trading on Thursday, reaching $15.90. 27,703 shares of the company were exchanged, compared to its average volume of 2,474,608. Luminar Technologies, Inc. has a fifty-two week low of $9.95 and a fifty-two week high of $47.80. The stock has a fifty day simple moving average of $16.62 and a two-hundred day simple moving average of $19.63.
Several research firms recently issued reports on LAZR. Zacks Investment Research raised shares of Luminar Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, September 21st. Robert W. Baird raised shares of Luminar Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $22.00 to $30.00 in a research note on Friday, June 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $30.90.
About Luminar Technologies
Luminar Technologies, Inc operates as a vehicle sensor and software company for passenger cars and commercial trucks. The company operates in two segments, Autonomy Solutions and Other Component Sales. The Autonomy Solutions segment designs, manufactures, and sells lidar sensors, and related perception and autonomy software solutions for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and other related industries.
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