Lumen Technologies, Inc. $LUMN Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,163,211 shares of the technology company’s stock after selling 152,588 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Lumen Technologies were worth $24,293,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Crossmark Global Holdings Inc. increased its holdings in shares of Lumen Technologies by 2.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock valued at $479,000 after purchasing an additional 1,230 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Lumen Technologies by 1.7% in the 1st quarter. Lazard Asset Management LLC now owns 78,690 shares of the technology company’s stock worth $547,000 after acquiring an additional 1,294 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Lumen Technologies by 4.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 31,875 shares of the technology company’s stock valued at $222,000 after acquiring an additional 1,393 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Lumen Technologies by 7.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,821 shares of the technology company’s stock valued at $162,000 after purchasing an additional 1,417 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in Lumen Technologies by 13.6% during the first quarter. Citizens Financial Group Inc. RI now owns 12,174 shares of the technology company’s stock worth $85,000 after purchasing an additional 1,457 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. The Goldman Sachs Group lowered their price objective on Lumen Technologies from $8.50 to $7.25 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Friday, July 17th. Citigroup cut their price objective on Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Nine analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $7.86.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $6.81 on Friday. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of -6.68 and a beta of 1.78. The business has a 50-day moving average of $6.45 and a 200 day moving average of $7.56. Lumen Technologies, Inc. has a 12 month low of $4.57 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.74 billion. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kathleen Johnson bought 100,000 shares of the stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $6.13 per share, for a total transaction of $613,000.00. Following the purchase, the chief executive officer owned 100,000 shares of the company’s stock, valued at $613,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Lumen Technologies Company Profile

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.