Zurcher Kantonalbank Zurich Cantonalbank Has $345,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 188,638 shares of the technology company’s stock after purchasing an additional 12,411 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lumen Technologies were worth $345,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LUMN. Vanguard Group Inc. lifted its stake in Lumen Technologies by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after acquiring an additional 2,404,674 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lumen Technologies by 16.0% during the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after purchasing an additional 3,071,405 shares during the period. Hsbc Holdings PLC grew its position in Lumen Technologies by 20.6% during the third quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock valued at $31,344,000 after purchasing an additional 3,713,167 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lumen Technologies by 34.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after buying an additional 5,239,967 shares during the period. Finally, Palestra Capital Management LLC lifted its position in Lumen Technologies by 788.4% in the 3rd quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock worth $9,273,000 after buying an additional 5,795,000 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Trading Up 2.3 %

Lumen Technologies stock opened at $1.32 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.03 and a debt-to-equity ratio of 36.89. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $2.70. The company’s fifty day simple moving average is $1.49 and its 200-day simple moving average is $1.48. The stock has a market cap of $1.34 billion, a P/E ratio of -0.12 and a beta of 1.16.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, April 30th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.38 billion. Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 750,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $1.28 per share, for a total transaction of $960,000.00. Following the purchase, the chief executive officer now directly owns 7,756,290 shares in the company, valued at approximately $9,928,051.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James Fowler bought 33,500 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $1.68 per share, for a total transaction of $56,280.00. Following the acquisition, the director now owns 216,538 shares in the company, valued at $363,783.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kathleen E. Johnson bought 750,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $1.28 per share, with a total value of $960,000.00. Following the transaction, the chief executive officer now directly owns 7,756,290 shares of the company’s stock, valued at $9,928,051.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 863,500 shares of company stock valued at $1,134,780. 1.68% of the stock is currently owned by corporate insiders.

About Lumen Technologies

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.