Left Brain Wealth Management LLC Invests $459,000 in Lumen Technologies, Inc. $LUMN

Left Brain Wealth Management LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 75,000 shares of the technology company’s stock, valued at approximately $459,000.

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

Insiders Place Their Bets

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

Lumen Technologies Trading Down 1.9%

Shares of NYSE:LUMN opened at $6.83 on Friday. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $11.95. The stock has a market capitalization of $7.00 billion, a P/E ratio of -3.93 and a beta of 1.56. The business has a 50-day moving average price of $7.93 and a two-hundred day moving average price of $7.49.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, equities analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

LUMN has been the subject of a number of recent analyst reports. UBS Group raised their price target on Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. The Goldman Sachs Group raised their price objective on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.25.

About Lumen Technologies

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.