Lumen Technologies (NYSE:LUMN) Stock Jumps 10.6% on Insider Buying Activity

Key Points

• Lumen shares rose 10.6% to about $4.78 after CEO Kathleen Johnson bought 100,000 shares, doubling her stake, and director Michelle Goldberg bought 25,000 shares.
• Analysts remain cautious: the average rating is “Reduce,” with an average price target of $6.19; several firms recently cut their targets.
• Quarterly adjusted EPS beat estimates at a loss of $0.14 per share, but revenue of $2.71 billion fell slightly short of expectations.

Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report)'s share price was up 10.6% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $4.69 and last traded at $4.7780. 3,997,166 shares changed hands during trading, a decline of 71% from the average session volume of 13,741,434 shares. The stock had previously closed at $4.32.

Specifically, Director Michelle J. Goldberg bought 25,000 shares of the stock in a transaction on Friday, November 6th. The shares were bought at an average price of $3.91 per share, with a total value of $97,750.00. Following the completion of the acquisition, the director owned 101,591 shares in the company, valued at $397,220.81. The trade was a 32.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kathleen Johnson acquired 100,000 shares of Lumen Technologies stock in a transaction dated Friday, November 6th. The stock was bought at an average price of $3.97 per share, with a total value of $397,000.00. Following the completion of the purchase, the chief executive officer directly owned 200,000 shares in the company, valued at $794,000. This represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

LUMN has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on Lumen Technologies from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, November 5th. Citigroup reduced their target price on shares of Lumen Technologies from $8.25 to $5.50 and set a "neutral" rating on the stock in a research note on Friday. Wells Fargo & Company cut their target price on Lumen Technologies from $7.50 to $5.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 5th. The Goldman Sachs Group dropped their price objective on Lumen Technologies from $7.25 to $5.00 and set a "neutral" rating for the company in a report on Thursday, November 5th. Finally, TD Cowen cut their price objective on Lumen Technologies from $9.00 to $8.00 and set a "hold" rating on the stock in a research report on Thursday, November 5th. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $6.19.

Key Headlines Impacting Lumen Technologies

Here are the key news stories impacting Lumen Technologies this week:

• Positive Sentiment: CEO Kathleen Johnson bought 100,000 shares for about $397,000, doubling her stake, while director Michelle Goldberg purchased 25,000 shares for $97,750. The buys may signal confidence in Lumen’s prospects, though they do not change the company’s fundamentals. Insider purchase reports
• Positive Sentiment: Lumen plans to recover copper from its legacy network as it pivots toward AI. The initiative could make use of old infrastructure, but the article provided no financial estimates or details on its potential contribution. Copper recovery and AI pivot
• Neutral Sentiment: Management cited growing enterprise demand for AI networking and a 10% year-over-year increase in strategic sales. Lumen also reported Q3 adjusted earnings that beat estimates, although revenue was slightly below expectations. Q3 earnings call coverage
• Neutral Sentiment: Lumen’s latest cybersecurity report says attackers are exploiting newly disclosed vulnerabilities faster and rebuilding their operations quickly. The findings highlight the threat environment, but the report itself does not indicate a new customer contract or direct revenue impact. Lumen cybersecurity report
• Negative Sentiment: Analyst price-target reductions add pressure to sentiment. Recent coverage cites lower targets from Citigroup, Goldman Sachs, and JPMorgan, while ratings remain largely cautious. Citigroup price-target reduction
• Negative Sentiment: Despite beating the quarterly EPS estimate, Lumen remains loss-making, and Q3 revenue fell slightly short of consensus—leaving investors focused on whether AI-related growth can translate into improved profitability.

Lumen Technologies Price Performance

The stock has a fifty day moving average of $5.54 and a 200 day moving average of $7.13. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of -4.72 and a beta of 1.94.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.09. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.73 billion. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Large investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new position in Lumen Technologies in the 2nd quarter valued at $18,541,000. Hsbc Holdings PLC lifted its position in Lumen Technologies by 10.5% in the second quarter. Hsbc Holdings PLC now owns 9,685,625 shares of the technology company's stock valued at $74,242,000 after purchasing an additional 919,605 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Lumen Technologies in the second quarter valued at about $2,513,000. The Manufacturers Life Insurance Company purchased a new stake in Lumen Technologies in the 2nd quarter valued at approximately $3,980,000. Finally, Congress Asset Management Co. increased its position in Lumen Technologies by 21.3% during the 3rd quarter. Congress Asset Management Co. now owns 1,191,427 shares of the technology company's stock worth $6,672,000 after purchasing an additional 209,416 shares during the period. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

About Lumen Technologies

Lumen Technologies is a telecommunications and technology company that provides network and digital services primarily to businesses, government agencies, and wholesale customers. Its offerings include fiber and internet connectivity, private networking, voice and collaboration services, cloud connectivity, and managed security solutions.

The company serves customers across North America and in international markets through its fiber network and related technology platforms. Lumen has shifted its focus toward enterprise services in recent years, including after selling consumer and local-exchange operations in several states.

Lumen was known as CenturyLink until adopting its current name in 2020.

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