Sequoia Financial Advisors LLC Sells 3,609 Shares of Lumen Technologies, Inc. $LUMN

Sequoia Financial Advisors LLC trimmed its position in Lumen Technologies, Inc. (NYSE:LUMN) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,989 shares of the technology company’s stock after selling 3,609 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lumen Technologies were worth $5,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC grew its stake in shares of Lumen Technologies by 23.6% during the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock worth $54,000 after acquiring an additional 2,619 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after acquiring an additional 3,391 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Lumen Technologies by 5.1% in the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company’s stock valued at $277,000 after acquiring an additional 3,426 shares during the last quarter. LPL Financial LLC grew its stake in Lumen Technologies by 1.0% in the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock valued at $1,490,000 after purchasing an additional 3,927 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Lumen Technologies by 60.8% in the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock valued at $43,000 after purchasing an additional 4,102 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $6.76 on Tuesday. The stock has a fifty day moving average price of $5.33 and a 200-day moving average price of $4.47. The company has a market cap of $6.93 billion, a price-to-earnings ratio of -5.72 and a beta of 1.45. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The business had revenue of $4.05 billion for the quarter. As a group, equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Lumen Technologies

In other news, CFO Christopher Stansbury purchased 40,000 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $4.44 per share, with a total value of $177,600.00. Following the completion of the purchase, the chief financial officer owned 535,000 shares of the company’s stock, valued at $2,375,400. This trade represents a 8.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kathleen E. Johnson purchased 135,870 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 217,870 shares of company stock worth $859,140 over the last three months. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on LUMN. Citigroup increased their price objective on Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, September 25th. Raymond James Financial upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. BNP Paribas upgraded shares of Lumen Technologies to a “hold” rating in a research note on Wednesday, June 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.39.

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.