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

Choreo LLC trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,108 shares of the technology company’s stock after selling 13,071 shares during the period. Choreo LLC’s holdings in Lumen Technologies were worth $2,303,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Stephens Inc. AR raised its stake in shares of Lumen Technologies by 7.7% during the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after buying an additional 1,935 shares in the last quarter. Concord Wealth Partners raised its stake 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 in the last quarter. US Bancorp DE raised its stake in shares of Lumen Technologies by 18.6% during 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 in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Lumen Technologies by 23.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock worth $95,000 after buying an additional 2,554 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after buying an additional 2,657 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.99 on Friday. The business’s fifty day moving average price is $5.76 and its two-hundred day moving average price is $5.99. The stock has a market cap of $5.06 billion, a PE ratio of -2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. On average, analysts forecast that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup raised their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. TD Cowen dropped their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.25 price objective (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $4.66.

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.