336,772 Shares in Lumen Technologies, Inc. $LUMN Acquired by JT Stratford LLC

JT Stratford LLC purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 336,772 shares of the technology company’s stock, valued at approximately $2,061,000.

Several other large investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Lumen Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 26,305 shares during the period. Empowered Funds LLC increased its holdings in Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after purchasing an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Lumen Technologies by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after purchasing an additional 300,328 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Lumen Technologies by 99.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 25,000 shares of the technology company’s stock valued at $110,000 after purchasing an additional 12,488 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Lumen Technologies by 4.9% during the second quarter. Teacher Retirement System of Texas now owns 147,843 shares of the technology company’s stock worth $648,000 after buying an additional 6,883 shares during the period. Institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on LUMN shares. Zacks Research upgraded Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Citigroup cut their price objective on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Wall Street Zen cut shares of Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. UBS Group lifted their price target on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group increased their price objective on shares of Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.25.

Insider Activity

In other Lumen Technologies news, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the sale, the director owned 198,229 shares in the company, valued at $1,564,026.81. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kathleen E. Johnson acquired 78,685 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was acquired at an average cost of $6.35 per share, with a total value of $499,649.75. Following the completion of the transaction, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.30% of the company’s stock.

Lumen Technologies Trading Up 0.4%

Shares of LUMN opened at $6.96 on Thursday. The company’s fifty day simple moving average is $7.95 and its 200 day simple moving average is $7.50. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $11.95. The company has a market cap of $7.13 billion, a price-to-earnings ratio of -4.00 and a beta of 1.56.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.