Jennison Associates LLC Has $23.78 Million Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Jennison Associates LLC lowered its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 308,560 shares of the technology company's stock after selling 11,038 shares during the quarter. Jennison Associates LLC owned about 0.63% of Cogent Communications worth $23,781,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Insight Partners LLC lifted its stake in Cogent Communications by 4.0% during the fourth quarter. Capital Insight Partners LLC now owns 65,476 shares of the technology company's stock worth $5,046,000 after purchasing an additional 2,524 shares during the last quarter. KBC Group NV increased its stake in shares of Cogent Communications by 59.0% in the fourth quarter. KBC Group NV now owns 2,326 shares of the technology company's stock valued at $179,000 after purchasing an additional 863 shares during the period. Blue Trust Inc. raised its stake in Cogent Communications by 53.8% during the 4th quarter. Blue Trust Inc. now owns 623 shares of the technology company's stock valued at $47,000 after acquiring an additional 218 shares in the last quarter. Phillips Wealth Planners LLC lifted its holdings in Cogent Communications by 6.6% in the fourth quarter. Phillips Wealth Planners LLC now owns 5,645 shares of the technology company's stock worth $405,000 after purchasing an additional 349 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Cogent Communications by 16.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 15,841 shares of the technology company's stock valued at $1,221,000 after acquiring an additional 2,235 shares in the last quarter. Institutional investors own 92.45% of the company's stock.

Cogent Communications Price Performance

Shares of Cogent Communications stock traded up $0.81 during midday trading on Friday, hitting $80.39. 381,712 shares of the company were exchanged, compared to its average volume of 295,983. The firm has a 50 day simple moving average of $75.74 and a 200-day simple moving average of $75.83. Cogent Communications Holdings, Inc. has a 52 week low of $50.80 and a 52 week high of $86.76. The firm has a market cap of $3.94 billion, a P/E ratio of 103.06 and a beta of 0.40. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last issued its earnings results on Thursday, November 7th. The technology company reported ($1.33) EPS for the quarter, beating the consensus estimate of ($1.34) by $0.01. Cogent Communications had a net margin of 3.73% and a negative return on equity of 36.31%. The company had revenue of $257.20 million for the quarter, compared to the consensus estimate of $258.69 million. During the same quarter in the previous year, the company earned ($1.13) EPS. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts forecast that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current year.

Insider Buying and Selling at Cogent Communications

In related news, Director Blake Bath sold 6,220 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $83.69, for a total value of $520,551.80. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $836,900. The trade was a 38.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $75.61, for a total value of $362,928.00. Following the transaction, the vice president now directly owns 33,800 shares in the company, valued at approximately $2,555,618. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,136 shares of company stock worth $1,939,749 over the last ninety days. Corporate insiders own 11.40% of the company's stock.

Analysts Set New Price Targets

Separately, UBS Group began coverage on shares of Cogent Communications in a report on Thursday, November 14th. They issued a "buy" rating and a $102.00 target price 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $80.25.

Cogent Communications Profile

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.