State of Alaska Department of Revenue Sells 101,763 Shares of Lumen Technologies, Inc. $LUMN

State of Alaska Department of Revenue reduced its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 508,075 shares of the technology company’s stock after selling 101,763 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lumen Technologies were worth $3,109,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Lumen Technologies during the 2nd quarter worth approximately $47,923,000. Curi Capital LLC bought a new stake in shares of Lumen Technologies during the second quarter worth $14,144,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Lumen Technologies during the third quarter worth $18,439,000. Canada Pension Plan Investment Board acquired a new position in Lumen Technologies in the 2nd quarter worth $8,151,000. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Lumen Technologies by 162.3% during the second quarter. Jupiter Asset Management Ltd. now owns 2,786,366 shares of the technology company’s stock worth $12,204,000 after buying an additional 1,724,088 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

LUMN has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Friday, October 31st. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $7.94 on Tuesday. The stock’s fifty day moving average price is $8.34 and its two-hundred day moving average price is $6.56. The firm has a market cap of $8.14 billion, a PE ratio of -4.81 and a beta of 1.46. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The company had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%. Sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

About Lumen Technologies

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.