Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Humankind Investments LLC

Humankind Investments LLC decreased its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 29.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,492 shares of the technology company’s stock after selling 7,547 shares during the quarter. Humankind Investments LLC’s holdings in Lumen Technologies were worth $98,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LUMN. 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 buying an additional 4,277 shares during the period. R Squared Ltd purchased a new position in Lumen Technologies in the fourth quarter valued at approximately $48,000. Seeds Investor LLC purchased a new position in Lumen Technologies in the fourth quarter valued at approximately $57,000. HB Wealth Management LLC purchased a new position in Lumen Technologies in the fourth quarter valued at approximately $59,000. Finally, Marshall Wace LLP purchased a new position in Lumen Technologies in the fourth quarter valued at approximately $61,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Up 5.5%

Shares of NYSE:LUMN opened at $4.39 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a fifty day simple moving average of $4.03 and a 200 day simple moving average of $5.39. The firm has a market cap of $4.50 billion, a PE ratio of -87.78 and a beta of 1.34. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.16. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on LUMN. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Raymond James upgraded shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price objective on the stock in a research note on Monday, May 5th. Finally, Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.58.

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.