Lumen Technologies, Inc. $LUMN Shares Acquired by Whipplewood Advisors LLC

Whipplewood Advisors LLC increased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 243,540.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,182 shares of the technology company’s stock after acquiring an additional 12,177 shares during the quarter. Whipplewood Advisors LLC’s holdings in Lumen Technologies were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State of New Jersey Common Pension Fund D grew its holdings in shares of Lumen Technologies by 9.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 490,480 shares of the technology company’s stock valued at $2,148,000 after buying an additional 43,711 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Lumen Technologies by 3,527.9% during 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 buying an additional 6,456 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Lumen Technologies by 195.0% during the second quarter. First Citizens Bank & Trust Co. now owns 132,726 shares of the technology company’s stock valued at $581,000 after buying an additional 87,727 shares in the last quarter. Phoenix Financial Ltd. grew its holdings in shares of Lumen Technologies by 75.6% during the second quarter. Phoenix Financial Ltd. now owns 52,042 shares of the technology company’s stock valued at $228,000 after buying an additional 22,409 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Lumen Technologies during the second quarter valued at $1,401,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insider Activity

In other Lumen Technologies news, CFO Christopher Stansbury acquired 42,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $4.29 per share, with a total value of $180,180.00. Following the transaction, the chief financial officer owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. This trade represents a 8.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathleen E. Johnson acquired 135,870 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of $3.69 per share, with a total value of $501,360.30. Following the transaction, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. The trade was a 1.43% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 217,870 shares of company stock valued at $859,140 in the last three months. 2.30% of the stock is owned by insiders.

Lumen Technologies Stock Performance

LUMN opened at $9.38 on Tuesday. The company has a market cap of $9.62 billion, a PE ratio of -7.95 and a beta of 1.45. The stock has a 50-day moving average of $6.02 and a 200-day moving average of $4.74. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $10.33. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. As a group, equities research analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of research analyst reports. Citigroup lifted their price target on Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, September 25th. Raymond James Financial upped their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. The Goldman Sachs Group raised their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $5.39.

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.