Is Lumen Technologies Stock a Buy or Sell After a Director Dumped 45,000 Shares?

Diankha Linear, a Director of Lumen Technologies (LUMN 6.04%), reported the open-market sale of 45,000 shares for a total consideration of approximately $355,000 on Feb. 20, 2026, according to a SEC Form 4 filing.

Transaction summary

Transaction value based on SEC Form 4 weighted average purchase price ($7.89); post-transaction value based on Feb. 20, 2026 market close ($7.89).

Key questions

• How does this sale compare to Diankha Linear’s prior trading activity?
  This is the first open-market sale reported by Ms. Linear, with the four prior transactions involving administrative adjustments rather than open-market trades.
• What proportion of Ms. Linear’s direct Lumen Technologies holdings were sold in this transaction?
  She reduced her direct position by 18.50%, from 243,229 shares to 198,229 shares.
• Were any shares sold from indirect accounts or through derivative securities?
  No; all shares disposed were held directly with zero indirect or derivative participation disclosed in this filing.
• What is the current market value of Ms. Linear’s remaining direct holdings?
  As of the Feb. 20, 2026 market close, her direct position is valued at approximately $1.55 million, assuming no further transactions.

Company overview

• 1-year performance calculated using Feb. 20, 2026 as the reference date.

Company snapshot

• Lumen Technologies offers integrated telecommunications and technology solutions, including fiber infrastructure, cloud services, IP/data, unified communications, and managed security, primarily under the Lumen, Quantum Fiber, and CenturyLink brands.
• It generates revenue through a mix of business and mass market segments, leveraging a facilities-based network to deliver recurring subscription services and enterprise solutions.
• The company serves both business and residential customers, with a primary focus on enterprises, government organizations, and approximately 4.5 million broadband subscribers as of the most recent reporting period.

Lumen Technologies is a leading U.S.-based telecommunications provider with a global reach, operating a large-scale fiber and data infrastructure network.

The company’s strategy centers on delivering advanced connectivity and technology solutions to enterprise and residential markets, with a strong emphasis on scalable, recurring service models. Competitive differentiation is driven by its extensive network assets and broad portfolio of integrated communications and IT services.

What this transaction means for investors

Lumen Board of Directors member Diankha Linear’s sale of company stock is not a cause for concern. She sold the shares in connection with tax and estate planning activities. Moreover, she retained nearly 200,000 shares after the transaction, indicating she is not in a rush to dispose of Lumen stock.

The company’s shares have soared over the past year as it made a strategic shift away from residential internet services to focus on a fiber-optic network optimized for artificial intelligence. Lumen sold its consumer business this February.

However, the shift in its business has caused declining revenue. It exited 2025 with $12.4 billion in sales, a drop from the $13.1 billion generated in 2024.

Lumen’s falling revenue combined with rising expenses resulted in a massive net loss of $1.7 billion in 2025. This is not a good situation since it also has amassed over $17 billion in debt.

Yet due to the increase in its share price, Lumen’s price-to-sales ratio of 0.6 is at a multi-year high. This makes now a good time for shareholders to sell, but not for investors to buy. Wait for the stock to drop before deciding to invest.