Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by M&G Plc

M&G PLC lowered its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 386,713 shares of the technology company's stock after selling 12,444 shares during the quarter. M&G PLC owned 0.79% of Cogent Communications worth $29,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Cogent Communications during the 1st quarter worth $26,000. Blue Trust Inc. grew its stake in Cogent Communications by 204.5% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company's stock worth $31,000 after purchasing an additional 272 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in Cogent Communications by 72.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company's stock worth $41,000 after purchasing an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Cogent Communications by 127.5% during the 2nd 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 in the last quarter. Finally, GAMMA Investing LLC grew its stake in Cogent Communications by 207.0% during the 3rd quarter. GAMMA Investing LLC now owns 660 shares of the technology company's stock worth $50,000 after purchasing an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company's stock.

Insider Buying and Selling at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40. Following the completion of the transaction, the executive now directly owns 50,982 shares of the company's stock, valued at $3,557,014.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CRO James Bubeck sold 1,920 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total transaction of $133,958.40. Following the completion of the transaction, the executive now directly owns 50,982 shares of the company's stock, valued at $3,557,014.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John B. Chang sold 1,400 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now directly owns 71,580 shares of the company's stock, valued at approximately $5,130,138.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,870 shares of company stock valued at $4,716,057. Corporate insiders own 11.00% of the company's stock.

Wall Street Analyst Weigh In

CCOI has been the subject of several analyst reports. KeyCorp upped 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. JPMorgan Chase & Co. upped their price objective on Cogent Communications from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $74.00 target price on shares of Cogent Communications in a research report on Tuesday, September 3rd. The Goldman Sachs Group upped their target price on Cogent Communications from $62.00 to $71.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Finally, Citigroup upped their target price on Cogent Communications from $70.00 to $82.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $77.14.

Cogent Communications Stock Performance

CCOI traded up $0.65 on Thursday, hitting $85.35. 662,242 shares of the company traded hands, compared to its average volume of 440,921. The stock has a market capitalization of $4.18 billion, a PE ratio of 92.31 and a beta of 0.40. The company has a 50 day moving average of $76.80 and a 200-day moving average of $67.38. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 4.43.

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

Cogent Communications Company 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.