Perigon Wealth Management LLC reduced its position in Cogent Communications Holdings Inc (NASDAQ:CCOI) by 27.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,246 shares of the technology company’s stock after selling 1,209 shares during the period. Perigon Wealth Management LLC’s holdings in Cogent Communications were worth $251,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Copper Rock Capital Partners LLC bought a new stake in Cogent Communications in the 2nd quarter valued at about $472,846,000. Sciencast Management LP purchased a new position in Cogent Communications during the 2nd quarter valued at about $242,000. Pacer Advisors Inc. grew its holdings in Cogent Communications by 39.8% during the 2nd quarter. Pacer Advisors Inc. now owns 418,913 shares of the technology company’s stock valued at $32,407,000 after buying an additional 119,209 shares in the last quarter. Pitcairn Co. grew its holdings in Cogent Communications by 6.5% during the 2nd quarter. Pitcairn Co. now owns 4,811 shares of the technology company’s stock valued at $372,000 after buying an additional 293 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cogent Communications by 30.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,011 shares of the technology company’s stock valued at $388,000 after buying an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 85.75% of the company’s stock.
Shares of NASDAQ CCOI opened at $90.11 on Friday. Cogent Communications Holdings Inc has a 12 month low of $53.24 and a 12 month high of $92.96. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 109.89, a PEG ratio of 8.53 and a beta of 0.23. The business has a 50-day moving average of $80.67 and a 200-day moving average of $79.24.
In other Cogent Communications news, CRO James Bubeck sold 1,920 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $78.28, for a total value of $150,297.60. Following the completion of the sale, the executive now owns 38,302 shares of the company’s stock, valued at $2,998,280.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marc Montagner sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $77.06, for a total value of $231,180.00. Following the completion of the sale, the director now owns 47,500 shares of the company’s stock, valued at approximately $3,660,350. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,070 shares of company stock valued at $863,509. 10.71% of the stock is owned by insiders.
A number of research analysts have weighed in on the company. Goldman Sachs Group lowered Cogent Communications from a “buy” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Friday, April 17th. BidaskClub raised Cogent Communications from a “sell” rating to a “hold” rating in a report on Thursday. Moffett Nathanson lifted their target price on Cogent Communications from $56.00 to $64.00 in a report on Friday, June 26th. Credit Suisse Group reissued a “buy” rating and set a $99.00 price objective on shares of Cogent Communications in a report on Tuesday, July 14th. Finally, ValuEngine lowered Cogent Communications from a “buy” rating to a “hold” rating in a report on Friday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $81.38.
Cogent Communications Company Profile
Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil.
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