Insider Selling: Lumen Technologies (NYSE:LUMN) Director Sells $355,050.00 in Stock

Lumen Technologies, Inc. (NYSE:LUMN) Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. This trade 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 accessible through this link.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $7.84 on Monday. The company has a market capitalization of $8.04 billion, a PE ratio of -4.50 and a beta of 1.51. The company’s fifty day moving average price is $8.08 and its 200 day moving average price is $7.35. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95.

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

Wall Street Analyst Weigh In

LUMN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Raymond James Financial reissued a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Royal Bank Of Canada increased their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. UBS Group lifted their target price on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Finally, Citigroup reduced their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus price target of $7.25.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. grew its stake in Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after acquiring an additional 1,351 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Lumen Technologies during the 4th quarter worth approximately $25,000. MRP Capital Investments LLC increased its holdings in shares of Lumen Technologies by 160.0% in the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Lumen Technologies by 3,527.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after purchasing an additional 6,456 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Lumen Technologies during the fourth quarter worth approximately $30,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

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.