Charles Schwab Investment Management Inc. Has $218.76 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Charles Schwab Investment Management Inc. decreased its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,811,812 shares of the technology company's stock after selling 1,245,966 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.04% of Lumen Technologies worth $218,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LUMN. Vanguard Group Inc. raised its stake in shares of Lumen Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company's stock worth $187,673,000 after acquiring an additional 1,975,400 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Lumen Technologies during the 1st quarter worth $468,000. Price T Rowe Associates Inc. MD boosted its position in Lumen Technologies by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company's stock valued at $1,291,000 after buying an additional 36,559 shares during the last quarter. Caxton Associates LP increased its stake in shares of Lumen Technologies by 17.2% in the 1st quarter. Caxton Associates LP now owns 420,680 shares of the technology company's stock valued at $656,000 after buying an additional 61,785 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Lumen Technologies by 527.6% during the second quarter. SG Americas Securities LLC now owns 399,656 shares of the technology company's stock worth $440,000 after acquiring an additional 335,971 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Wall Street Analyst Weigh In

LUMN has been the subject of several recent research reports. Moffett Nathanson boosted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the stock a "sell" rating in a report on Wednesday, August 7th. Citigroup upgraded shares of Lumen Technologies from a "sell" rating to a "neutral" rating and increased their price objective for the company from $1.25 to $3.15 in a report on Tuesday, August 6th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an "underweight" rating to a "neutral" rating in a report on Wednesday, August 7th. Bank of America increased their price target on Lumen Technologies from $1.00 to $2.00 and gave the company an "underperform" rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.02.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now directly owns 384,056 shares in the company, valued at approximately $1,805,063.20. This trade represents a 2.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.68% of the company's stock.

Lumen Technologies Stock Up 0.4 %

Shares of LUMN stock traded up $0.03 on Friday, hitting $7.88. 13,741,348 shares of the stock were exchanged, compared to its average volume of 18,712,902. The business has a 50-day moving average of $7.15 and a 200 day moving average of $4.27. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The firm has a market capitalization of $8.00 billion, a P/E ratio of -3.63 and a beta of 1.21. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business earned ($0.09) earnings per share. Lumen Technologies's revenue was down 11.5% compared to the same quarter last year. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.38 EPS 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.