29,920 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by NorthRock Partners LLC

NorthRock Partners LLC purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the third quarter, HoldingsChannel.com reports. The firm purchased 29,920 shares of the technology company’s stock, valued at approximately $212,000.

Several other institutional investors have also added to or reduced their stakes in the business. Stephens Inc. AR raised its position in shares of Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,935 shares during the last quarter. Concord Wealth Partners increased its stake in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares in the last quarter. US Bancorp DE raised its holdings in shares of Lumen Technologies by 18.6% in the third quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock worth $107,000 after buying an additional 2,350 shares during the last quarter. Xponance Inc. lifted its stake in shares of Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after buying an additional 2,487 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in shares of Lumen Technologies by 23.6% during the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after buying an additional 2,554 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their target price for the stock from $1.75 to $4.00 in a research note on Friday, August 16th. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Stock Up 18.4 %

Shares of LUMN stock opened at $9.01 on Thursday. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $9.20. The stock has a market cap of $9.16 billion, a P/E ratio of -4.29 and a beta of 1.21. The stock has a 50 day moving average of $6.32 and a 200 day moving average of $3.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Lumen Technologies had a negative net margin of 15.06% and a negative return on equity of 18.52%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter last year, the company earned ($0.09) EPS. The business’s revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.59 EPS for the current year.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the purchase, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.68% of the stock is owned by corporate insiders.

Lumen Technologies Profile

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.