Highbridge Capital Management LLC lessened its stake in Velodyne Lidar, Inc. (NASDAQ:VLDR) by 89.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,380 shares of the company’s stock after selling 1,236,927 shares during the quarter. Highbridge Capital Management LLC owned approximately 0.08% of Velodyne Lidar worth $1,737,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Quilter Plc bought a new stake in shares of Velodyne Lidar in the 1st quarter worth approximately $116,000. UBS Group AG raised its holdings in shares of Velodyne Lidar by 98.7% in the 1st quarter. UBS Group AG now owns 112,030 shares of the company’s stock worth $1,277,000 after purchasing an additional 55,635 shares during the period. Vontobel Holding Ltd. grew its stake in Velodyne Lidar by 183.0% in the 1st quarter. Vontobel Holding Ltd. now owns 107,277 shares of the company’s stock valued at $1,223,000 after buying an additional 69,376 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Velodyne Lidar in the 1st quarter valued at approximately $163,000. Finally, Oppenheimer & Co. Inc. grew its stake in Velodyne Lidar by 59.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 209,122 shares of the company’s stock valued at $2,384,000 after buying an additional 77,747 shares in the last quarter. 12.27% of the stock is currently owned by institutional investors.
NASDAQ:VLDR traded down $0.18 during midday trading on Friday, hitting $10.91. The company had a trading volume of 49,790 shares, compared to its average volume of 4,798,289. Velodyne Lidar, Inc. has a 52-week low of $8.97 and a 52-week high of $32.50. The stock has a fifty day simple moving average of $11.97. The firm has a market cap of $2.07 billion, a P/E ratio of -11.91 and a beta of 0.90.
VLDR has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of Velodyne Lidar in a research note on Tuesday, April 20th. They issued an “underperform” rating for the company. Berenberg Bank reiterated a “hold” rating and issued a $16.00 price objective on shares of Velodyne Lidar in a research note on Thursday, March 18th. Zacks Investment Research upgraded shares of Velodyne Lidar from a “sell” rating to a “hold” rating in a research note on Wednesday, April 28th. The Goldman Sachs Group initiated coverage on shares of Velodyne Lidar in a research note on Sunday, April 18th. They issued a “neutral” rating and a $13.00 price objective for the company. Finally, Needham & Company LLC reduced their price objective on shares of Velodyne Lidar from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.22.
In other Velodyne Lidar news, CEO Anand Gopalan sold 440,672 shares of the business’s stock in a transaction on Thursday, May 13th. The shares were sold at an average price of $9.85, for a total value of $4,340,619.20. Following the completion of the sale, the chief executive officer now directly owns 506,960 shares of the company’s stock, valued at $4,993,556. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David S. Hall sold 250,000 shares of the business’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $9.54, for a total transaction of $2,385,000.00. Following the completion of the sale, the insider now directly owns 59,520,524 shares of the company’s stock, valued at $567,825,798.96. The disclosure for this sale can be found here. Insiders sold 5,465,502 shares of company stock valued at $55,301,150 over the last quarter. 13.30% of the stock is owned by company insiders.
About Velodyne Lidar
Velodyne Lidar, Inc provides real-time three-dimensional vision for autonomous systems worldwide. It offers a broad lineup of surround-view lidar to support numerous end applications, including autonomous vehicles, drones, security, and mapping; and solid state lidar technology that combine the high reliability and long lifetime of traditional micro electro-mechanical systems solutions.
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