Sequoia Financial Advisors LLC Has $5.37 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Sequoia Financial Advisors LLC trimmed its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 34.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,370,598 shares of the technology company's stock after selling 711,367 shares during the period. Sequoia Financial Advisors LLC owned about 0.13% of Lumen Technologies worth $5,373,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Lumen Technologies by 8.6% in the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock worth $65,602,000 after acquiring an additional 982,206 shares in the last quarter. Norges Bank bought a new position in Lumen Technologies in the 4th quarter valued at $63,638,000. Renaissance Technologies LLC boosted its stake in Lumen Technologies by 76.3% in the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock worth $61,936,000 after purchasing an additional 5,049,709 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after purchasing an additional 7,717,596 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Lumen Technologies by 474.8% in the fourth quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock valued at $30,503,000 after buying an additional 4,745,040 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LUMN shares. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Raymond James Financial upgraded shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price on the stock in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Lumen Technologies has a consensus rating of "Hold" and an average price target of $4.58.

Lumen Technologies Trading Up 3.2%

Shares of LUMN traded up $0.14 on Tuesday, reaching $4.52. 10,232,363 shares of the company's stock were exchanged, compared to its average volume of 19,565,932. Lumen Technologies, Inc. has a 12 month low of $1.00 and a 12 month high of $10.33. The stock has a market capitalization of $4.64 billion, a P/E ratio of -14.58 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. The business has a 50 day moving average price of $4.02 and a two-hundred day moving average price of $4.53.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the company posted ($0.04) EPS. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies 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.