Ballentine Partners LLC Has $117,000 Stock Holdings in Lumen Technologies, Inc. $LUMN

Ballentine Partners LLC lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 21.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,673 shares of the technology company’s stock after purchasing an additional 4,680 shares during the period. Ballentine Partners LLC’s holdings in Lumen Technologies were worth $117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LUMN. Nuveen LLC acquired a new stake in shares of Lumen Technologies during the first quarter worth $26,469,000. Invesco Ltd. raised its position in shares of Lumen Technologies by 91.6% during the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock worth $40,285,000 after purchasing an additional 4,911,803 shares during the period. Woodline Partners LP acquired a new position in Lumen Technologies during the first quarter valued at $5,006,000. Allianz Asset Management GmbH raised its position in Lumen Technologies by 12.6% during the first quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company’s stock valued at $34,387,000 after buying an additional 982,038 shares during the period. Finally, Carronade Capital Management LP acquired a new position in Lumen Technologies during the first quarter valued at $3,736,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUMN has been the topic of several recent analyst reports. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. BNP Paribas raised Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. The Goldman Sachs Group started coverage on Lumen Technologies in a research report on Tuesday, September 2nd. They set a “neutral” rating and a $4.10 price target on the stock. Raymond James Financial boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Citigroup boosted their target price on Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a research note on Thursday, September 25th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.31.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen E. Johnson purchased 135,870 shares of Lumen Technologies stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $3.69 per share, for a total transaction of $501,360.30. Following the transaction, the chief executive officer directly owned 9,616,947 shares of the company’s stock, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Christopher Stansbury purchased 42,000 shares of Lumen Technologies stock in a transaction dated Thursday, August 14th. The stock was bought at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the completion of the transaction, the chief financial officer directly owned 518,000 shares in the company, valued at $2,222,220. The trade was a 8.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 217,870 shares of company stock worth $859,140 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Lumen Technologies Stock Up 4.1%

Shares of LUMN opened at $6.13 on Wednesday. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of -5.19 and a beta of 1.42. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The business’s fifty day moving average price is $4.90 and its two-hundred day moving average price is $4.34. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.21. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company earned ($0.13) EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

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.