Profund Advisors LLC Has $54,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Profund Advisors LLC lowered its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,689 shares of the technology company’s stock after selling 5,755 shares during the quarter. Profund Advisors LLC’s holdings in Lumen Technologies were worth $54,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LUMN. Sawgrass Asset Management LLC raised its holdings in Lumen Technologies by 68.5% in the second 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 worth about $26,000. HighPoint Advisor Group LLC acquired a new position in Lumen Technologies in the fourth quarter valued at about $27,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Lumen Technologies in the second quarter worth about $33,000. Finally, Fidelis Capital Partners LLC raised 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 worth $35,000 after purchasing an additional 10,764 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler acquired 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.68% of the stock is currently owned by corporate insiders.

Lumen Technologies Trading Down 2.5 %

Shares of Lumen Technologies stock opened at $7.10 on Tuesday. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $7.83. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The business’s 50 day moving average is $5.21 and its 200-day moving average is $2.67. The stock has a market cap of $7.20 billion, a P/E ratio of -0.65 and a beta of 1.18.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The firm 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 revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Equities research analysts predict that Lumen Technologies, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LUMN has been the subject of several research analyst reports. UBS Group boosted their price objective on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen increased their price objective on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $1.75 to $4.00 in a research report on Friday, August 16th. Moffett Nathanson increased their target price on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised Lumen Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $1.00 to $4.00 in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock 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.