8,300 Shares in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Bought by Consolidated Planning Corp

Consolidated Planning Corp acquired a new stake in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,300 shares of the technology company’s stock, valued at approximately $630,000.

Other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in shares of Cogent Communications during the 1st quarter valued at about $26,000. Blue Trust Inc. increased its stake in 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 acquiring an additional 272 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Cogent Communications by 72.9% during the third quarter. Hexagon Capital Partners LLC now owns 536 shares of the technology company’s stock valued at $41,000 after purchasing an additional 226 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cogent Communications by 127.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 787 shares of the technology company’s stock valued at $44,000 after purchasing an additional 441 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cogent Communications by 207.0% in 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 during the period. Institutional investors own 92.45% of the company’s stock.

Cogent Communications Stock Up 0.8 %

Shares of NASDAQ:CCOI opened at $85.35 on Friday. The business’s 50 day moving average is $77.11 and its 200 day moving average is $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 Holdings, Inc. has a 52-week low of $50.80 and a 52-week 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) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.68) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $260.40 million for the quarter, compared to analyst estimates of $264.32 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts predict that Cogent Communications Holdings, Inc. will post -4.46 EPS for the current year.

Insiders Place Their Bets

In other news, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $69.77, for a total value of $133,958.40. Following the completion of the sale, the executive now owns 50,982 shares in the company, valued at approximately $3,557,014.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Lewis H. Ferguson sold 1,550 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $72.62, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO James Bubeck sold 1,920 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was 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 owns 50,982 shares of the company’s stock, valued at $3,557,014.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,870 shares of company stock worth $4,716,057 in the last three months. Corporate insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

CCOI has been the subject of a number of analyst reports. KeyCorp raised their price target 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. lifted their price target on shares of Cogent Communications from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. TD Cowen increased their price objective on shares of Cogent Communications from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $74.00 target price on shares of Cogent Communications in a research report on Tuesday, September 3rd. Finally, Citigroup increased their price target on Cogent Communications from $70.00 to $82.00 and gave the stock a “buy” rating in a 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 company currently has an average rating of “Hold” and a consensus target price of $77.14.

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.