Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Swiss National Bank

Posted by on May 13th, 2023

Swiss National Bank lessened its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,787,115 shares of the technology company’s stock after selling 242,084 shares during the quarter. Swiss National Bank owned about 0.37% of Lumen Technologies worth $19,769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Lumen Technologies by 8.3% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock worth $147,000 after buying an additional 995 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Lumen Technologies by 47.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 4,212 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,347 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Lumen Technologies by 7.9% in the 1st quarter. SVB Wealth LLC now owns 18,743 shares of the technology company’s stock valued at $212,000 after purchasing an additional 1,370 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Lumen Technologies by 2.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 61,377 shares of the technology company’s stock worth $447,000 after purchasing an additional 1,734 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Lumen Technologies by 11.2% during the first quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after purchasing an additional 1,837 shares in the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Lumen Technologies Stock Up 0.9 %

Shares of NYSE:LUMN opened at $2.36 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $2.37 billion, a P/E ratio of -1.43 and a beta of 1.01. Lumen Technologies, Inc. has a 1-year low of $2.06 and a 1-year high of $12.54. The firm has a fifty day moving average price of $2.47 and a 200 day moving average price of $4.32.

Lumen Technologies (NYSE:LUMN – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.73 billion. Lumen Technologies had a positive return on equity of 8.87% and a negative net margin of 9.89%. The business’s quarterly revenue was down 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. Sell-side analysts predict that Lumen Technologies, Inc. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

LUMN has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating for the company in a report on Monday, March 13th. The Goldman Sachs Group lowered their price target on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Citigroup cut shares of Lumen Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $6.25 to $3.50 in a report on Wednesday, February 8th. Bank of America lowered their target price on shares of Lumen Technologies from $4.00 to $2.00 in a report on Thursday, May 4th. Finally, TheStreet cut shares of Lumen Technologies from a “c” rating to a “d” rating in a research report on Tuesday, February 7th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.11.

About Lumen Technologies

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Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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