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

Caz Investments LP boosted its position in Luminar Technologies, Inc. (NASDAQ:LAZR) by 100.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,000 shares of the company’s stock after purchasing an additional 150,000 shares during the period. Luminar Technologies comprises 0.2% of Caz Investments LP’s portfolio, making the stock its 12th biggest holding. Caz Investments LP owned about 0.06% of Luminar Technologies worth $270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. 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 purchasing an additional 425,335 shares in the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of 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 acquiring an additional 15,300 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings 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 worth $49,000 after purchasing an additional 12,685 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Luminar Technologies by 6.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,155 shares of the company’s stock worth $342,000 after acquiring an additional 22,400 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Luminar Technologies during the third quarter valued at approximately $141,000. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of Luminar Technologies from $135.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Rosenblatt Securities restated a “neutral” rating and issued a $30.00 target price on shares of Luminar Technologies in a research note on Wednesday, October 2nd. The Goldman Sachs Group lowered their price target on Luminar Technologies from $11.25 to $7.50 and set a “sell” rating for the company in a report on Thursday, November 14th. JPMorgan Chase & Co. dropped their target price on shares of Luminar Technologies from $120.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $15.00 price target on shares of Luminar Technologies in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Luminar Technologies has a consensus rating of “Hold” and an average target price of $50.06.

Luminar Technologies Price Performance

Shares of LAZR stock opened at $8.69 on Wednesday. Luminar Technologies, Inc. has a 52-week low of $8.63 and a 52-week high of $55.35. The business has a 50-day simple moving average of $12.71 and a 200-day simple moving average of $17.85.

Luminar Technologies (NASDAQ:LAZR) last issued its quarterly earnings results on Monday, November 11th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.30) by $0.90. The business had revenue of $15.49 million for the quarter, compared to analysts’ expectations of $17.70 million. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.95) EPS. As a group, sell-side analysts expect that Luminar Technologies, Inc. will post -14.17 EPS for the current year.

Luminar Technologies 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.