Natixis Advisors LLC Acquires Shares of 150,828 Lumen Technologies, Inc. (NYSE:LUMN)

Natixis Advisors LLC purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 150,828 shares of the technology company's stock, valued at approximately $1,071,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Concord Wealth Partners lifted its position in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock worth $28,000 after acquiring an additional 1,992 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Lumen Technologies in the 3rd quarter valued at $46,000. GAMMA Investing LLC grew its holdings in Lumen Technologies by 1,901.8% in the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company's stock valued at $49,000 after buying an additional 6,504 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Lumen Technologies during the 3rd quarter worth $59,000. Finally, Stableford Capital II LLC acquired a new stake in shares of Lumen Technologies during the third quarter worth $71,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the transaction, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LUMN shares. Moffett Nathanson increased their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the stock a "sell" rating in a research report on Wednesday, August 7th. TD Cowen lowered their price objective on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upgraded Lumen Technologies from an "underweight" rating to a "neutral" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Finally, UBS Group increased their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.02.

Lumen Technologies Trading Down 3.7 %

Shares of Lumen Technologies stock traded down $0.29 on Wednesday, reaching $7.37. 10,020,751 shares of the company's stock were exchanged, compared to its average volume of 19,701,244. The firm's 50-day moving average is $7.20 and its two-hundred day moving average is $4.36. The company has a market capitalization of $7.47 billion, a P/E ratio of -3.41 and a beta of 1.21. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. Lumen Technologies's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. Sell-side analysts predict that Lumen Technologies, Inc. will post -0.38 EPS for the current fiscal year.

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.