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

Lumen Technologies, Inc. (NYSE:LUMN) traded up 10.6% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $4.69 and last traded at $4.7780. Approximately 3,997,166 shares changed hands during mid-day 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 purchased 25,000 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was bought at an average cost of $3.91 per share, with a total value of $97,750.00. Following the completion of the acquisition, the director directly owned 101,591 shares in the company, valued at $397,220.81. The trade was a 32.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathleen Johnson bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $3.97 per share, for a total transaction of $397,000.00. Following the completion of the transaction, the chief executive officer directly owned 200,000 shares of the company’s stock, valued at approximately $794,000. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

Several research firms recently issued reports on LUMN. Moffett Nathanson raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and set a $4.00 price target on the stock in a research note on Friday, October 30th. The Goldman Sachs Group cut their target price on Lumen Technologies from $7.25 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Friday, July 17th. TD Cowen reduced their price target on shares of Lumen Technologies from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on Lumen Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $6.19.

Key Lumen Technologies News

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 Stock Performance

The firm has a market cap of $4.91 billion, a P/E ratio of -4.72 and a beta of 1.94. The firm has a fifty day moving average of $5.54 and a 200-day moving average of $7.13.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.73 billion. Equities research analysts expect that Lumen Technologies, Inc. will post -0.54 earnings per share for the current year.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LUMN. Edgestream Partners L.P. acquired a new stake in Lumen Technologies in the 3rd quarter valued at approximately $869,000. Maryland State Retirement & Pension System increased its stake in Lumen Technologies by 53.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 211,356 shares of the technology company’s stock valued at $1,184,000 after buying an additional 73,491 shares during the period. New York Life Investment Management LLC acquired a new stake in shares of Lumen Technologies in the 3rd quarter worth approximately $785,000. Penn Capital Management Company LLC raised its holdings in Lumen Technologies by 6.8% during the third quarter. Penn Capital Management Company LLC now owns 2,719,257 shares of the technology company’s stock worth $15,257,000 after purchasing an additional 172,254 shares in the last quarter. Finally, Fulcrum Asset Management LLP boosted its stake in Lumen Technologies by 266.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 151,727 shares of the technology company’s stock valued at $841,000 after purchasing an additional 110,367 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Company Profile

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.