Sequoia Financial Advisors LLC Decreases Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Sequoia Financial Advisors LLC decreased its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,370,598 shares of the technology company's stock after selling 711,367 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.13% of Lumen Technologies worth $5,373,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Truist Financial Corp grew its holdings in Lumen Technologies by 68.1% during the 4th quarter. Truist Financial Corp now owns 21,577 shares of the technology company's stock valued at $115,000 after purchasing an additional 8,741 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Lumen Technologies during the 4th quarter valued at about $69,000. Los Angeles Capital Management LLC boosted its position in Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock valued at $78,000 after buying an additional 2,489 shares during the period. Whipplewood Advisors LLC bought a new position in Lumen Technologies in the 4th quarter worth about $67,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company's stock worth $207,000 after acquiring an additional 3,109 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Up 4.2%

Shares of LUMN traded up $0.18 during trading hours on Friday, hitting $4.53. The company had a trading volume of 44,580,892 shares, compared to its average volume of 19,618,282. 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 company has a market capitalization of $4.65 billion, a PE ratio of -14.62 and a beta of 1.38. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33. The company's fifty day moving average price is $3.97 and its two-hundred day moving average price is $4.56.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly 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 business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LUMN. Raymond James Financial raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective on the stock in a research note on Monday, May 5th. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.58.

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.