Deutsche Bank AG Has $3.85 Million Stock Holdings in Lumen Technologies, Inc. $LUMN

Key Points

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Deutsche Bank AG trimmed its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 38.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 981,718 shares of the technology company's stock after selling 607,495 shares during the quarter. Deutsche Bank AG owned about 0.10% of Lumen Technologies worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LUMN. Dimensional Fund Advisors LP grew its stake in shares of Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after purchasing an additional 7,717,596 shares during the last quarter. Millennium Management LLC grew its stake in shares of Lumen Technologies by 474.8% in the 4th quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company's stock worth $30,503,000 after purchasing an additional 4,745,040 shares during the last quarter. Northern Trust Corp grew its stake in shares of Lumen Technologies by 8.6% in the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock worth $65,602,000 after purchasing an additional 982,206 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Lumen Technologies by 12.6% in the 1st quarter. Allianz Asset Management GmbH now owns 8,772,315 shares of the technology company's stock worth $34,387,000 after purchasing an additional 982,038 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Lumen Technologies by 96.4% in the 1st quarter. Federated Hermes Inc. now owns 1,900,477 shares of the technology company's stock worth $7,450,000 after purchasing an additional 932,856 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Insider Buying and Selling

In related news, CEO Kathleen E. Johnson acquired 135,870 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $3.69 per share, with a total value of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares of the company's stock, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher Stansbury acquired 42,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $180,180.00. Following the completion of the transaction, the chief financial officer directly 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 purchased 217,870 shares of company stock worth $859,140 over the last ninety days. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

LUMN has been the topic of several recent research reports. Wall Street Zen raised shares of Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. BNP Paribas raised shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.29.

Lumen Technologies Trading Up 6.6%

Shares of Lumen Technologies stock traded up $0.2850 during trading on Friday, hitting $4.5950. The stock had a trading volume of 11,141,458 shares, compared to its average volume of 13,130,422. The stock has a 50 day simple moving average of $4.30 and a 200 day simple moving average of $4.22. The company has a market capitalization of $4.72 billion, a PE ratio of -3.89 and a beta of 1.43. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm posted ($0.13) earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Lumen Technologies, Inc. will post -0.87 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.