378,642 Shares in Lumen Technologies, Inc. $LUMN Purchased by Edgestream Partners L.P.

Key Points

• Edgestream Partners purchased 378,642 shares of Lumen Technologies in the first quarter, valued at approximately $2.63 million. Institutional investors collectively own 66.19% of LUMN’s outstanding shares.
• Lumen reported a first-quarter loss of $0.47 per share, missing estimates by $0.34, while revenue of $2.90 billion exceeded expectations but declined 8.9% year over year.
• LUMN opened at $6.36, below its 50-day and 200-day moving averages. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $8.32.

Edgestream Partners L.P. bought a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 378,642 shares of the technology company's stock, valued at approximately $2,632,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Lumen Technologies by 324.7% in the fourth quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company's stock worth $172,585,000 after acquiring an additional 16,981,326 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Lumen Technologies by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,390,473 shares of the technology company's stock valued at $142,894,000 after purchasing an additional 473,242 shares during the period. Dimensional Fund Advisors LP lifted its position in Lumen Technologies by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 14,994,640 shares of the technology company's stock valued at $104,156,000 after purchasing an additional 144,664 shares during the period. Norges Bank purchased a new stake in Lumen Technologies in the fourth quarter worth approximately $106,557,000. Finally, Front Street Capital Management Inc. grew its position in Lumen Technologies by 1.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company's stock worth $52,425,000 after purchasing an additional 132,131 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 0.3%

LUMN opened at $6.36 on Monday. The firm's 50 day simple moving average is $7.83 and its two-hundred day simple moving average is $7.90. The company has a market capitalization of $6.55 billion, a PE ratio of -3.66 and a beta of 1.79. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.34). The firm had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same period last year, the firm posted ($0.13) earnings per share. Lumen Technologies's revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts forecast that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LUMN shares. UBS Group increased their price target on Lumen Technologies from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. TD Cowen lifted their price objective on Lumen Technologies from $8.00 to $9.00 and gave the stock a "hold" rating in a report on Wednesday, May 6th. Zacks Research cut Lumen Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a report on Friday, July 17th. Finally, Wells Fargo & Company raised their target price on Lumen Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lumen Technologies presently has a consensus rating of "Reduce" and an average target price of $8.32.

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.

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