Sequoia Financial Advisors LLC Sells 3,609 Shares of Lumen Technologies, Inc. $LUMN

Sequoia Financial Advisors LLC lowered its position in Lumen Technologies, Inc. (NYSE:LUMN) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,366,989 shares of the technology company’s stock after selling 3,609 shares during the period. Sequoia Financial Advisors LLC owned 0.13% of Lumen Technologies worth $5,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of Lumen Technologies by 103.4% during the first quarter. SG Americas Securities LLC now owns 170,464 shares of the technology company’s stock worth $668,000 after purchasing an additional 86,637 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Lumen Technologies by 263.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 279,789 shares of the technology company’s stock worth $1,097,000 after buying an additional 202,884 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Lumen Technologies during the 1st quarter worth about $43,000. Steel Grove Capital Advisors LLC lifted its position in Lumen Technologies by 71.8% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 127,552 shares of the technology company’s stock worth $500,000 after buying an additional 53,328 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Lumen Technologies by 92.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company’s stock worth $157,000 after acquiring an additional 19,216 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Stock Up 2.7%

Lumen Technologies stock opened at $6.76 on Tuesday. The company’s 50 day simple moving average is $5.33 and its 200 day simple moving average is $4.47. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $10.33. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -5.72 and a beta of 1.45. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion for the quarter. As a group, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CFO Christopher Stansbury acquired 42,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the acquisition, the chief financial officer directly owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. This trade represents a 8.82% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kathleen E. Johnson bought 135,870 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the acquisition, the chief executive officer directly owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 217,870 shares of company stock valued at $859,140. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LUMN shares. The Goldman Sachs Group raised their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. BNP Paribas raised Lumen Technologies to a “hold” rating in a research note on Wednesday, June 25th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Citigroup boosted their price objective on Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.39.

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.