Facet Wealth Inc. Acquires New Shares in Lumen Technologies, Inc. $LUMN

Facet Wealth Inc. purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,379 shares of the technology company’s stock, valued at approximately $108,000.

Several other large investors have also recently made changes to their positions in LUMN. HB Wealth Management LLC raised its holdings in Lumen Technologies by 23.6% in the first quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock worth $54,000 after purchasing an additional 2,619 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after acquiring an additional 3,391 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Lumen Technologies by 5.1% during the 1st quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company’s stock worth $277,000 after acquiring an additional 3,426 shares in the last quarter. LPL Financial LLC raised its stake in shares of Lumen Technologies by 1.0% during the 1st quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock worth $1,490,000 after acquiring an additional 3,927 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Lumen Technologies by 60.8% during the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after purchasing an additional 4,102 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Insider Transactions at Lumen Technologies

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

Lumen Technologies Stock Performance

LUMN opened at $9.38 on Tuesday. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $10.33. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The firm has a market capitalization of $9.62 billion, a PE ratio of -7.95 and a beta of 1.45. The firm has a 50 day moving average of $6.02 and a two-hundred day moving average of $4.74.

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

Wall Street Analysts Forecast Growth

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