Boston Financial Mangement LLC Sells 13,000 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Boston Financial Mangement LLC cut its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 596,821 shares of the technology company's stock after selling 13,000 shares during the quarter. Cogent Communications comprises 1.4% of Boston Financial Mangement LLC's investment portfolio, making the stock its 15th biggest holding. Boston Financial Mangement LLC owned approximately 1.22% of Cogent Communications worth $45,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Cogent Communications by 40.1% in the 3rd quarter. Creative Planning now owns 17,618 shares of the technology company's stock worth $1,338,000 after buying an additional 5,043 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Cogent Communications by 5.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,984 shares of the technology company's stock worth $378,000 after purchasing an additional 262 shares during the period. Blue Trust Inc. increased 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. Taylor Frigon Capital Management LLC increased its stake in shares of Cogent Communications by 2.2% during the third quarter. Taylor Frigon Capital Management LLC now owns 19,836 shares of the technology company's stock valued at $1,506,000 after purchasing an additional 429 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Cogent Communications by 17.4% during the third quarter. Nisa Investment Advisors LLC now owns 14,180 shares of the technology company's stock valued at $1,077,000 after purchasing an additional 2,104 shares during the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cogent Communications

In related news, CRO James Bubeck sold 1,920 shares of Cogent Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.60, for a total value of $147,072.00. Following the completion of the sale, the executive now owns 49,542 shares of the company's stock, valued at $3,794,917.20. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,440 shares of company stock worth $1,057,910 over the last quarter. 11.40% of the stock is currently owned by insiders.

Cogent Communications Stock Down 1.9 %

CCOI stock traded down $1.52 during midday trading on Friday, hitting $79.93. The company's stock had a trading volume of 300,536 shares, compared to its average volume of 321,028. The firm's 50-day moving average is $76.50 and its 200-day moving average is $76.79. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 5.87. Cogent Communications Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $86.76. The company has a market cap of $3.92 billion, a PE ratio of 102.47 and a beta of 0.40.

Analysts Set New Price Targets

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 issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cogent Communications presently has an average rating of "Hold" and an average target price of $80.25.

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.