195,600 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 195,600 shares of the technology company's stock, valued at approximately $1,039,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AXQ Capital LP purchased a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $84,000. Sei Investments Co. raised its stake in Lumen Technologies by 273.0% during the 4th quarter. Sei Investments Co. now owns 177,538 shares of the technology company's stock valued at $943,000 after purchasing an additional 129,945 shares during the period. American Century Companies Inc. lifted its holdings in shares of Lumen Technologies by 787.2% in the fourth quarter. American Century Companies Inc. now owns 136,961 shares of the technology company's stock valued at $727,000 after purchasing an additional 121,524 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Lumen Technologies by 102.2% in the fourth quarter. Virtu Financial LLC now owns 134,590 shares of the technology company's stock worth $715,000 after buying an additional 68,028 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of Lumen Technologies by 454.1% during the fourth quarter. Quantbot Technologies LP now owns 571,725 shares of the technology company's stock valued at $3,036,000 after buying an additional 468,537 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUMN has been the topic of a number of research reports. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Lumen Technologies has a consensus rating of "Hold" and a consensus price target of $4.59.

Lumen Technologies Stock Down 6.4 %

LUMN stock traded down $0.23 during trading hours on Friday, hitting $3.28. The company's stock had a trading volume of 17,377,375 shares, compared to its average volume of 19,014,655. The stock has a 50 day moving average price of $4.69 and a two-hundred day moving average price of $5.96. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a market capitalization of $3.36 billion, a PE ratio of -65.49 and a beta of 1.29. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.