Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by BSW Wealth Partners

BSW Wealth Partners decreased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 42.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,064 shares of the technology company's stock after selling 96,000 shares during the quarter. BSW Wealth Partners' holdings in Lumen Technologies were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LUMN. Stephens Inc. AR increased its position in Lumen Technologies by 7.7% during the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company's stock worth $192,000 after purchasing an additional 1,935 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after buying an additional 1,992 shares during the last quarter. US Bancorp DE raised its position in shares of Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company's stock worth $107,000 after buying an additional 2,350 shares during the period. Xponance Inc. grew its position in Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company's stock valued at $71,000 after acquiring an additional 2,487 shares during the period. Finally, Arkadios Wealth Advisors grew its position in Lumen Technologies by 23.6% during the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company's stock valued at $95,000 after acquiring an additional 2,554 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LUMN shares. Bank of America lifted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the company an "underperform" rating in a research note on Thursday, August 8th. TD Cowen boosted their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a "hold" rating in a research note on Wednesday, August 7th. Moffett Nathanson raised their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and lifted their target price for the company from $1.75 to $4.00 in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upgraded Lumen Technologies from an "underweight" rating to a "neutral" rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $4.09.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now owns 384,056 shares of the company's stock, valued at approximately $1,805,063.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.68% of the stock is currently owned by company insiders.

Lumen Technologies Stock Up 9.5 %

NYSE LUMN traded up $0.61 during trading hours on Friday, reaching $7.00. 20,335,722 shares of the company traded hands, compared to its average volume of 13,324,472. The company has a 50 day moving average of $6.24 and a two-hundred day moving average of $3.49. The stock has a market capitalization of $7.12 billion, a PE ratio of -3.33 and a beta of 1.21. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $7.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The firm's quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.18 earnings per share 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.