Franklin Resources Inc. Cuts Stake in Pulmonx Co. (NASDAQ:LUNG)

Franklin Resources Inc. reduced its stake in shares of Pulmonx Co. (NASDAQ:LUNG - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 576,273 shares of the company's stock after selling 124,116 shares during the quarter. Franklin Resources Inc. owned 1.46% of Pulmonx worth $3,913,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LUNG. Barclays PLC lifted its position in Pulmonx by 1.8% during the third quarter. Barclays PLC now owns 94,109 shares of the company's stock worth $780,000 after purchasing an additional 1,679 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pulmonx by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 315,532 shares of the company's stock worth $2,142,000 after acquiring an additional 2,363 shares during the period. Rhumbline Advisers boosted its position in shares of Pulmonx by 4.9% during the 4th quarter. Rhumbline Advisers now owns 53,503 shares of the company's stock worth $363,000 after acquiring an additional 2,488 shares in the last quarter. American Century Companies Inc. increased its stake in Pulmonx by 8.8% in the fourth quarter. American Century Companies Inc. now owns 34,738 shares of the company's stock valued at $236,000 after acquiring an additional 2,810 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Pulmonx by 27.0% during the fourth quarter. SG Americas Securities LLC now owns 15,555 shares of the company's stock valued at $106,000 after purchasing an additional 3,310 shares in the last quarter. 91.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup assumed coverage on Pulmonx in a research note on Monday, March 10th. They issued a "buy" rating on the stock. Jefferies Financial Group started coverage on Pulmonx in a report on Monday, March 10th. They set a "buy" rating on the stock. Morgan Stanley began coverage on shares of Pulmonx in a research note on Monday, March 10th. They issued an "equal weight" rating on the stock. Finally, D. Boral Capital assumed coverage on shares of Pulmonx in a report on Monday, March 10th. They set a "buy" rating and a $17.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.75.

Pulmonx Stock Down 0.4 %

NASDAQ:LUNG traded down $0.02 on Thursday, hitting $4.77. The stock had a trading volume of 90,860 shares, compared to its average volume of 317,780. The company has a quick ratio of 6.77, a current ratio of 7.70 and a debt-to-equity ratio of 0.40. Pulmonx Co. has a 52 week low of $4.69 and a 52 week high of $10.01. The business's fifty day moving average is $7.11 and its 200 day moving average is $6.73. The company has a market cap of $191.94 million, a PE ratio of -3.31 and a beta of 0.61.

Pulmonx (NASDAQ:LUNG - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.12. The company had revenue of $23.77 million for the quarter, compared to analysts' expectations of $22.29 million. Pulmonx had a negative return on equity of 55.36% and a negative net margin of 67.31%. On average, equities research analysts expect that Pulmonx Co. will post -1.55 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mehul Joshi sold 14,384 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $7.12, for a total value of $102,414.08. Following the completion of the sale, the chief financial officer now owns 113,986 shares in the company, valued at $811,580.32. This represents a 11.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven S. Williamson sold 27,689 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.14, for a total transaction of $197,699.46. Following the transaction, the chief executive officer now owns 194,342 shares in the company, valued at approximately $1,387,601.88. This trade represents a 12.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,660 shares of company stock worth $1,128,484 over the last three months. 5.70% of the stock is currently owned by insiders.

Pulmonx Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.