Lumen Technologies (NYSE:LUMN) CEO Kathleen Johnson Purchases 100,000 Shares of Stock

Lumen Technologies, Inc. (NYSE:LUMN) CEO Kathleen Johnson bought 100,000 shares of the business’s stock in a transaction on Friday, November 6th. The stock was bought at an average price of $3.97 per share, for a total transaction of $397,000.00. Following the completion of the purchase, the chief executive officer directly owned 200,000 shares of the company’s stock, valued at $794,000. The trade was a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Lumen Technologies Stock Performance

Shares of LUMN opened at $4.32 on Tuesday. Lumen Technologies, Inc. has a 1 year low of $3.84 and a 1 year high of $11.39. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -4.24 and a beta of 1.94. The firm has a fifty day moving average of $5.54 and a 200-day moving average of $7.13.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.73 billion. Analysts predict that Lumen Technologies, Inc. will post -0.54 EPS for the current year.

More Lumen Technologies News

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: CEO Kathleen Johnson bought 100,000 shares for about $397,000, doubling her position, and director Michelle J. Goldberg bought 25,000 shares for about $97,750. The purchases may signal confidence in Lumen, though they do not change the company’s fundamentals. CEO purchase filing Director purchase filing
• Positive Sentiment: On its Q3 earnings call, management pointed to growing demand for AI networking and a 10% year-over-year increase in strategic sales. Lumen also expanded its Microsoft collaboration to help enterprises connect applications and data with Azure AI services. Q3 earnings call Microsoft AI connectivity collaboration
• Neutral Sentiment: Analyst views remain mixed: TD Cowen maintained a Hold rating, while other coverage described disagreement on the stock. Some commentary argues Lumen may be undervalued based on future cash flow, but that view depends on the company delivering on its outlook. TD Cowen rating Cash flow valuation commentary
• Negative Sentiment: Citigroup, TD Cowen, and JPMorgan reportedly reduced their price targets, adding pressure to sentiment. The reports provided here do not specify the revised targets. Citigroup price target reduction TD Cowen price target trim JPMorgan price target cut
• Negative Sentiment: Q3 revenue of $2.72 billion was slightly below consensus, and Lumen reported a $265 million net loss. The strategic-sales growth is encouraging, but investors still face execution and profitability risks. Q3 results and call

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Moffett Nathanson upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and set a $4.00 price target on the stock in a research note on Friday, October 30th. JPMorgan Chase & Co. cut their price target on Lumen Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, November 5th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Wells Fargo & Company decreased their price objective on Lumen Technologies from $7.50 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $6.19.

Institutional Investors Weigh In On Lumen Technologies

Several institutional investors have recently bought and sold shares of LUMN. Maryland State Retirement & Pension System grew its position in Lumen Technologies by 53.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 211,356 shares of the technology company’s stock valued at $1,184,000 after buying an additional 73,491 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of Lumen Technologies during the 3rd quarter worth about $785,000. Penn Capital Management Company LLC raised its position in shares of Lumen Technologies by 6.8% during the 3rd quarter. Penn Capital Management Company LLC now owns 2,719,257 shares of the technology company’s stock worth $15,257,000 after buying an additional 172,254 shares in the last quarter. Fulcrum Asset Management LLP lifted its stake in shares of Lumen Technologies by 266.8% in the 3rd quarter. Fulcrum Asset Management LLP now owns 151,727 shares of the technology company’s stock worth $841,000 after acquiring an additional 110,367 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Lumen Technologies by 9.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 35,097 shares of the technology company’s stock worth $196,000 after acquiring an additional 3,009 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Company Profile

Lumen Technologies is a telecommunications and technology company that provides network and digital services primarily to businesses, government agencies, and wholesale customers. Its offerings include fiber and internet connectivity, private networking, voice and collaboration services, cloud connectivity, and managed security solutions.

The company serves customers across North America and in international markets through its fiber network and related technology platforms. Lumen has shifted its focus toward enterprise services in recent years, including after selling consumer and local-exchange operations in several states.

Lumen was known as CenturyLink until adopting its current name in 2020.