Bank of New York Mellon Corp Cuts Position in Luminar Technologies, Inc. (NASDAQ:LAZR)

Bank of New York Mellon Corp reduced its stake in Luminar Technologies, Inc. (NASDAQ:LAZR) by 92.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,301 shares of the company’s stock after selling 761,980 shares during the quarter. Bank of New York Mellon Corp’s holdings in Luminar Technologies were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Entropy Technologies LP bought a new stake in Luminar Technologies in the fourth quarter worth $97,000. Virtu Financial LLC purchased a new position in shares of Luminar Technologies in the 3rd quarter worth about $316,000. Barclays PLC boosted its stake in Luminar Technologies by 469.2% in the 3rd quarter. Barclays PLC now owns 842,288 shares of the company’s stock worth $757,000 after purchasing an additional 694,315 shares in the last quarter. Geode Capital Management LLC grew its position in Luminar Technologies by 17.9% during the 3rd 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 during the last quarter. Finally, LRI Investments LLC lifted its stake in shares of Luminar Technologies by 32,352.8% in the third quarter. LRI Investments LLC now owns 162,264 shares of the company’s stock worth $146,000 after buying an additional 161,764 shares in the last quarter. Hedge funds and other institutional investors own 30.99% of the company’s stock.

Luminar Technologies Stock Down 2.3 %

NASDAQ:LAZR opened at $6.01 on Friday. The stock has a market cap of $200.21 million, a price-to-earnings ratio of -0.45 and a beta of 1.74. The company’s 50 day moving average price is $5.83 and its 200-day moving average price is $8.77. Luminar Technologies, Inc. has a 52 week low of $4.48 and a 52 week high of $34.80.

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.