Lumen Technologies, Inc. $LUMN Stock Holdings Lessened by Swiss National Bank

Swiss National Bank lessened its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,860,500 shares of the technology company’s stock after selling 7,300 shares during the period. Swiss National Bank owned 0.18% of Lumen Technologies worth $8,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after purchasing an additional 3,391 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Lumen Technologies by 3,527.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock worth $29,000 after buying an additional 6,456 shares during the last quarter. Meeder Advisory Services Inc. acquired a new stake in Lumen Technologies in the first quarter worth $41,000. Smartleaf Asset Management LLC lifted its stake in Lumen Technologies by 60.8% in the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock valued at $43,000 after buying an additional 4,102 shares during the last quarter. Finally, Firestone Capital Management acquired a new position in shares of Lumen Technologies during the second quarter valued at $44,000. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $8.13 on Friday. The company has a 50-day moving average of $7.91 and a 200-day moving average of $5.66. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of -6.89 and a beta of 1.45. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a twelve month low of $3.01 and a twelve month high of $11.95.

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

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Friday, October 31st. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Royal Bank Of Canada increased their price target on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and a consensus price target of $6.72.

About Lumen Technologies

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.