Asset Management One Co. Ltd. Sells 21,203 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Asset Management One Co. Ltd. lessened its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 31.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,194 shares of the technology company's stock after selling 21,203 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.10% of Cogent Communications worth $3,576,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in Cogent Communications in the third quarter valued at $30,000. Blue Trust Inc. raised its stake in shares of Cogent Communications by 204.5% during the third quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Cogent Communications during the third quarter valued at about $46,000. KBC Group NV raised its stake in shares of Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company's stock valued at $111,000 after purchasing an additional 326 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in Cogent Communications in the 3rd quarter worth about $204,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Insiders Place Their Bets

In related news, CRO James Bubeck sold 1,920 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the transaction, the executive now directly owns 49,542 shares of the company's stock, valued at approximately $3,794,917.20. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Henry W. Kilmer sold 4,800 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total value of $362,928.00. Following the sale, the vice president now owns 33,800 shares of the company's stock, valued at approximately $2,555,618. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,440 shares of company stock valued at $1,057,910 in the last 90 days. 11.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They issued a "buy" rating and a $102.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cogent Communications has an average rating of "Hold" and a consensus price target of $80.25.

Cogent Communications Stock Down 1.9 %

NASDAQ CCOI traded down $1.53 during trading on Friday, hitting $79.92. The stock had a trading volume of 105,102 shares, compared to its average volume of 314,891. The company has a market capitalization of $3.92 billion, a PE ratio of 102.42 and a beta of 0.40. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The company's 50-day moving average price is $76.44 and its two-hundred day moving average price is $76.68. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

About Cogent Communications

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.