Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,081,965 shares of the technology company's stock after acquiring an additional 664,823 shares during the quarter. Sequoia Financial Advisors LLC owned 0.21% of Lumen Technologies worth $11,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their target price for the stock 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 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $4.59.

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Lumen Technologies Trading Down 5.9 %

LUMN stock traded down $0.30 during midday trading on Thursday, hitting $4.69. 12,997,816 shares of the company's stock were exchanged, compared to its average volume of 12,515,500. The business has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $6.10. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The stock has a market capitalization of $4.75 billion, a PE ratio of -93.68 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.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its 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, sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal 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.