Harbor Capital Advisors Inc. Boosts Holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Harbor Capital Advisors Inc. grew its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 70.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,119 shares of the technology company's stock after acquiring an additional 7,099 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Cogent Communications were worth $1,300,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Cogent Communications in the first quarter valued at approximately $26,000. 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 worth $31,000 after purchasing an additional 272 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock worth $41,000 after purchasing an additional 226 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cogent Communications by 207.0% during the third quarter. GAMMA Investing LLC now owns 660 shares of the technology company's stock worth $50,000 after purchasing an additional 445 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Cogent Communications by 127.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company's stock worth $44,000 after purchasing an additional 441 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Cogent Communications Price Performance

Shares of CCOI stock traded up $3.12 during mid-day trading on Wednesday, reaching $84.70. The stock had a trading volume of 656,197 shares, compared to its average volume of 439,893. The company has a market cap of $4.15 billion, a P/E ratio of 93.08 and a beta of 0.40. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 4.43. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.00. The business has a 50-day simple moving average of $76.53 and a 200 day simple moving average of $67.25.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.59. The business had revenue of $260.40 million during the quarter, compared to the consensus estimate of $264.32 million. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The business's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) EPS. On average, sell-side analysts anticipate that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current year.

Analysts Set New Price Targets

CCOI has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Citigroup upped their price target on Cogent Communications from $70.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. Bank of America cut Cogent Communications from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $75.00 to $65.00 in a research note on Wednesday, August 21st. Royal Bank of Canada restated an "outperform" rating and set a $74.00 price target on shares of Cogent Communications in a research note on Tuesday, September 3rd. Finally, KeyCorp increased their price objective on Cogent Communications from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cogent Communications presently has an average rating of "Hold" and an average target price of $77.14.

Insider Transactions at Cogent Communications

In other news, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $71.67, for a total transaction of $100,338.00. Following the completion of the transaction, the vice president now owns 71,580 shares of the company's stock, valued at $5,130,138.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Dave Schaeffer sold 60,000 shares of Cogent Communications stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $72.82, for a total transaction of $4,369,200.00. Following the completion of the sale, the chief executive officer now owns 4,373,038 shares in the company, valued at approximately $318,444,627.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John B. Chang sold 1,400 shares of Cogent Communications stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $71.67, for a total value of $100,338.00. Following the completion of the sale, the vice president now owns 71,580 shares of the company's stock, valued at $5,130,138.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,870 shares of company stock valued at $4,716,057 in the last 90 days. 11.00% of the stock is currently owned by insiders.

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.