Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by LPL Financial LLC

LPL Financial LLC decreased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 43.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,089 shares of the technology company's stock after selling 285,987 shares during the quarter. LPL Financial LLC's holdings in Lumen Technologies were worth $1,997,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in Lumen Technologies during the 4th quarter valued at $1,139,000. Strategic Financial Concepts LLC increased its position in Lumen Technologies by 430.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after purchasing an additional 145,542 shares in the last quarter. Polianta Ltd acquired a new position in Lumen Technologies in the 4th quarter valued at about $692,000. Mariner Investment Group LLC purchased a new position in Lumen Technologies in the 4th quarter valued at about $531,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Lumen Technologies by 8.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company's stock worth $4,967,000 after purchasing an additional 73,841 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 0.2 %

Shares of LUMN traded down $0.01 during trading hours on Friday, hitting $3.28. The stock had a trading volume of 8,949,564 shares, compared to its average volume of 19,238,290. The company's fifty day simple moving average is $4.32 and its 200 day simple moving average is $5.67. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The firm has a market cap of $3.36 billion, a P/E ratio of -65.49 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Equities research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on LUMN. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a research note on Friday, February 21st. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $4.59.

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.