Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Bought by US Bancorp DE

US Bancorp DE raised its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,587 shares of the technology company’s stock after acquiring an additional 1,970 shares during the quarter. US Bancorp DE’s holdings in Cogent Communications were worth $1,335,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CCOI. EntryPoint Capital LLC acquired a new position in Cogent Communications in the 1st quarter valued at about $26,000. Blue Trust Inc. grew its position 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 buying an additional 272 shares in the last quarter. Hexagon Capital Partners LLC grew its position 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 buying an additional 226 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 441 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 buying an additional 445 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, VP John B. Chang sold 1,400 shares of the business’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 value of $100,338.00. Following the completion of the sale, the vice president now owns 71,580 shares in the company, valued at approximately $5,130,138.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP John B. Chang sold 1,400 shares of the company’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 completion of the sale, the vice president now owns 71,580 shares in the company, valued at $5,130,138.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lewis H. Ferguson sold 1,550 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total value of $112,561.00. Following the sale, the director now owns 17,748 shares of the company’s stock, valued at $1,288,859.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,870 shares of company stock worth $4,716,057. 11.00% of the stock is owned by insiders.

Cogent Communications Price Performance

Shares of NASDAQ CCOI opened at $85.35 on Friday. 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 twelve month low of $50.80 and a twelve month high of $86.76. The stock has a 50 day moving average of $77.11 and a two-hundred day moving average of $67.50. The stock has a market cap of $4.18 billion, a P/E ratio of 93.79 and a beta of 0.40.

Cogent Communications (NASDAQ:CCOI) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.59. Cogent Communications had a negative return on equity of 32.14% and a net margin of 4.26%. The company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $264.32 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts forecast that Cogent Communications Holdings, Inc. will post -4.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America downgraded Cogent Communications from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $75.00 to $65.00 in a research report on Wednesday, August 21st. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group boosted their price objective on Cogent Communications from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. KeyCorp upped their price target on Cogent Communications from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price target on shares of Cogent Communications in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.14.

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.