Sequoia Financial Advisors LLC Increases Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Sequoia Financial Advisors LLC boosted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 46.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,081,965 shares of the technology company’s stock after buying an additional 664,823 shares during the period. Sequoia Financial Advisors LLC’s holdings in Lumen Technologies were worth $11,055,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies in the third quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lumen Technologies in the third quarter valued at $36,000. Smartleaf Asset Management LLC raised its holdings in Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after acquiring an additional 4,277 shares in the last quarter. R Squared Ltd acquired a new stake in Lumen Technologies in the fourth quarter valued at $48,000. Finally, HB Wealth Management LLC acquired a new stake in Lumen Technologies in the fourth quarter valued at $59,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Stock Up 2.2 %

Shares of NYSE:LUMN opened at $4.98 on Thursday. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The company’s fifty day moving average is $5.10 and its two-hundred day moving average is $6.10. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -99.48 and a beta of 1.28.

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

Wall Street Analysts Forecast Growth

Several research firms 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 target on the stock in a report on Friday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and a consensus price target 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.