Swiss National Bank Sells 86,600 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Swiss National Bank lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,899,900 shares of the technology company’s stock after selling 86,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Lumen Technologies worth $10,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LUMN. GSA Capital Partners LLP bought a new stake in shares of Lumen Technologies during the third quarter worth $183,000. Oppenheimer & Co. Inc. raised its position in shares of Lumen Technologies by 23.3% during the third quarter. Oppenheimer & Co. Inc. now owns 35,928 shares of the technology company’s stock worth $255,000 after acquiring an additional 6,782 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Lumen Technologies during the third quarter worth $1,071,000. Thrivent Financial for Lutherans raised its position in shares of Lumen Technologies by 25.2% during the third quarter. Thrivent Financial for Lutherans now owns 1,056,735 shares of the technology company’s stock worth $7,503,000 after acquiring an additional 212,407 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of Lumen Technologies by 7.0% during the third quarter. Pathstone Holdings LLC now owns 442,441 shares of the technology company’s stock worth $3,141,000 after purchasing an additional 29,091 shares during the period. Institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

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

Lumen Technologies Stock Down 1.5 %

NYSE:LUMN opened at $4.92 on Friday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -98.28 and a beta of 1.28. The stock has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $6.08. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last issued its quarterly 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 46.17% and a negative net margin of 0.42%. As a group, equities analysts expect 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.