Insider Selling: Luna Innovations Incorporated (LUNA) Major Shareholder Sells 39,172 Shares of Stock

Luna Innovations Incorporated (NASDAQ:LUNA) major shareholder Clinic Carilion sold 39,172 shares of the stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $3.41, for a total value of $133,576.52. Following the sale, the insider now owns 2,051,785 shares of the company’s stock, valued at $6,996,586.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Clinic Carilion also recently made the following trade(s):

  • On Friday, April 13th, Clinic Carilion sold 78,045 shares of Luna Innovations stock. The stock was sold at an average price of $3.39, for a total value of $264,572.55.
  • On Wednesday, April 11th, Clinic Carilion sold 44,012 shares of Luna Innovations stock. The stock was sold at an average price of $3.43, for a total value of $150,961.16.

Shares of Luna Innovations stock opened at $3.30 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.98 and a debt-to-equity ratio of 0.01. Luna Innovations Incorporated has a 1-year low of $1.16 and a 1-year high of $4.00.

A number of analysts have weighed in on LUNA shares. Northland Securities reiterated a “buy” rating and set a $3.25 price target on shares of Luna Innovations in a report on Wednesday, March 21st. Zacks Investment Research downgraded Luna Innovations from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd.

A number of institutional investors have recently modified their holdings of LUNA. EAM Investors LLC acquired a new stake in Luna Innovations during the 4th quarter worth about $666,000. Renaissance Technologies LLC grew its stake in shares of Luna Innovations by 45.7% in the 4th quarter. Renaissance Technologies LLC now owns 841,005 shares of the scientific and technical instruments company’s stock valued at $2,044,000 after buying an additional 263,700 shares during the period. Millennium Management LLC acquired a new stake in shares of Luna Innovations in the 4th quarter valued at about $327,000. Deutsche Bank AG grew its stake in shares of Luna Innovations by 331.2% in the 4th quarter. Deutsche Bank AG now owns 100,910 shares of the scientific and technical instruments company’s stock valued at $244,000 after buying an additional 77,510 shares during the period. Finally, Alambic Investment Management L.P. acquired a new stake in shares of Luna Innovations in the 4th quarter valued at about $178,000. Hedge funds and other institutional investors own 18.45% of the company’s stock.

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About Luna Innovations

Luna Innovations Incorporated develops, manufactures and markets fiber optic sensing and test, and measurement products. The Company is focused on bringing technology solutions to measure and monitor processes in the aerospace, automotive, energy, composite, telecommunications and defense industries.

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