Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by US Bancorp DE

US Bancorp DE lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 18.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,012 shares of the technology company’s stock after buying an additional 2,350 shares during the period. US Bancorp DE’s holdings in Lumen Technologies were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LUMN. Millennium Management LLC raised its position in Lumen Technologies by 129.8% during the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock worth $8,640,000 after buying an additional 4,436,710 shares during the last quarter. Front Street Capital Management Inc. increased its stake in shares of Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock worth $12,827,000 after acquiring an additional 2,697,423 shares during the period. Vanguard Group Inc. raised its holdings in Lumen Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock worth $187,673,000 after purchasing an additional 1,975,400 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Lumen Technologies in the third quarter valued at about $10,062,000. Finally, AQR Capital Management LLC boosted its holdings in Lumen Technologies by 52.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock valued at $3,712,000 after purchasing an additional 1,246,289 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This represents a 2.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.68% of the company’s stock.

Lumen Technologies Trading Down 1.0 %

Shares of Lumen Technologies stock opened at $8.54 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The business’s fifty day moving average is $6.93 and its two-hundred day moving average is $4.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. The firm has a market cap of $8.67 billion, a PE ratio of -3.94 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) EPS. Analysts anticipate that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

LUMN has been the subject of several recent analyst reports. TD Cowen reduced their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Moffett Nathanson raised their target price on Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Bank of America upped their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.