Vanguard Personalized Indexing Management LLC Sells 30,614 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Vanguard Personalized Indexing Management LLC cut its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 41.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,845 shares of the technology company’s stock after selling 30,614 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Lumen Technologies were worth $47,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sawgrass Asset Management LLC increased its holdings in shares of Lumen Technologies by 68.5% during the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after purchasing an additional 9,263 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Lumen Technologies during the second quarter valued at about $26,000. HighPoint Advisor Group LLC acquired a new position in Lumen Technologies in the 4th quarter valued at approximately $27,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter worth approximately $33,000. Finally, Fidelis Capital Partners LLC increased its position in shares of Lumen Technologies by 94.6% during the first quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after purchasing an additional 10,764 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.68% of the stock is owned by company insiders.

Lumen Technologies Stock Down 5.4 %

NYSE LUMN opened at $6.72 on Wednesday. The stock’s 50 day simple moving average is $5.32 and its 200 day simple moving average is $2.71. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $7.83. The firm has a market cap of $6.82 billion, a PE ratio of -0.61 and a beta of 1.18.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.25 billion. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the subject of several research reports. Bank of America raised their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $1.75 to $4.00 in a research report on Friday, August 16th. UBS Group increased their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, TD Cowen raised their target price on Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.02.

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.