Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC trimmed its stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 portfolio, making the stock its 15th largest position. Boston Financial Mangement LLC owned approximately 1.22% of Cogent Communications worth $45,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CCOI. Intech Investment Management LLC grew its holdings in Cogent Communications by 85.7% in the 3rd quarter. Intech Investment Management LLC now owns 16,908 shares of the technology company’s stock worth $1,284,000 after buying an additional 7,803 shares in the last quarter. Consolidated Planning Corp bought a new position in Cogent Communications in the 3rd quarter worth approximately $630,000. PEAK6 Investments LLC bought a new position in Cogent Communications in the 3rd quarter worth approximately $1,720,000. Citigroup Inc. grew its holdings in Cogent Communications by 56.8% in the 3rd quarter. Citigroup Inc. now owns 56,595 shares of the technology company’s stock worth $4,297,000 after buying an additional 20,510 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in Cogent Communications by 136.5% in the 3rd quarter. Verition Fund Management LLC now owns 145,223 shares of the technology company’s stock worth $11,025,000 after buying an additional 83,816 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group assumed coverage on Cogent Communications in a research note on Thursday, November 14th. They set a “buy” rating and a $102.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cogent Communications currently has an average rating of “Hold” and an average price target of $80.25.

Insider Transactions at Cogent Communications

In other news, CRO James Bubeck sold 1,920 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the completion of the sale, the executive now directly owns 49,542 shares of the company’s stock, valued at $3,794,917.20. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thaddeus Gerard Weed sold 4,800 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $81.58, for a total value of $391,584.00. Following the sale, the chief financial officer now directly owns 88,500 shares of the company’s stock, valued at approximately $7,219,830. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,440 shares of company stock valued at $1,057,910 in the last three months. 11.00% of the stock is currently owned by corporate insiders.

Cogent Communications Stock Performance

CCOI opened at $83.44 on Thursday. The firm has a market cap of $4.09 billion, a PE ratio of 106.97 and a beta of 0.40. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 5.87. The business has a fifty day simple moving average of $76.32 and a 200-day simple moving average of $76.65. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76.

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.