Wealthfront Advisers LLC Buys Shares of 66,249 Lumen Technologies, Inc. (NYSE:LUMN)

Wealthfront Advisers LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 66,249 shares of the technology company's stock, valued at approximately $352,000.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at about $1,139,000. Strategic Financial Concepts LLC lifted its holdings in shares of Lumen Technologies by 430.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after buying an additional 145,542 shares during the period. Polianta Ltd acquired a new position in shares of Lumen Technologies in the 4th quarter valued at about $692,000. Mariner Investment Group LLC acquired a new position in shares of Lumen Technologies in the 4th quarter valued at about $531,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Lumen Technologies in the 3rd quarter valued at about $433,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Lumen Technologies Price Performance

NYSE LUMN traded down $0.08 during trading hours on Thursday, reaching $4.92. The company's stock had a trading volume of 5,361,916 shares, compared to its average volume of 18,315,523. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -98.28 and a beta of 1.28. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The company's 50-day moving average is $5.03 and its two-hundred day moving average is $6.09.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts' consensus estimates 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 analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies Company Profile

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.