Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,447,907 shares of the technology company’s stock after selling 79,201 shares during the period. Vanguard Group Inc. owned 9.96% of Cogent Communications Holdings worth $178,360,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Cogent Communications Holdings by 3.5% in the second quarter. BlackRock Inc. now owns 5,128,950 shares of the technology company’s stock valued at $205,670,000 after buying an additional 172,987 shares in the last quarter. FMR LLC lifted its position in shares of Cogent Communications Holdings by 5.9% during the first quarter. FMR LLC now owns 3,118,604 shares of the technology company’s stock worth $134,256,000 after purchasing an additional 173,379 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Cogent Communications Holdings by 13.1% during the second quarter. Jennison Associates LLC now owns 1,867,749 shares of the technology company’s stock worth $74,897,000 after purchasing an additional 215,940 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Cogent Communications Holdings by 23.0% during the second quarter. First Trust Advisors LP now owns 1,413,588 shares of the technology company’s stock worth $56,685,000 after purchasing an additional 264,597 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cogent Communications Holdings by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,333,805 shares of the technology company’s stock worth $57,420,000 after purchasing an additional 97,938 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

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A number of brokerages have recently issued reports on CCOI. Wells Fargo & Company lowered shares of Cogent Communications Holdings from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $46.00 to $48.00 in a research report on Monday, October 9th. Zacks Investment Research lowered shares of Cogent Communications Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. KeyCorp reiterated a “hold” rating on shares of Cogent Communications Holdings in a research report on Wednesday, October 11th. Deutsche Bank AG upped their target price on shares of Cogent Communications Holdings from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $48.00 target price on shares of Cogent Communications Holdings in a research report on Monday, September 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.23.

In other news, VP Timothy G. Oneill sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $48.75, for a total value of $97,500.00. Following the transaction, the vice president now owns 39,052 shares in the company, valued at approximately $1,903,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy G. Oneill sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $41.95, for a total transaction of $41,950.00. Following the completion of the transaction, the vice president now owns 42,052 shares in the company, valued at approximately $1,764,081.40. The disclosure for this sale can be found here. Insiders sold a total of 31,466 shares of company stock worth $1,422,354 in the last 90 days. Corporate insiders own 9.48% of the company’s stock.

Shares of Cogent Communications Holdings, Inc. (NASDAQ CCOI) opened at 52.70 on Friday. The company’s 50 day moving average is $48.64 and its 200-day moving average is $43.77. The company has a market capitalization of $2.36 billion, a P/E ratio of 150.57 and a beta of 0.66. Cogent Communications Holdings, Inc. has a 1-year low of $34.45 and a 1-year high of $52.75.

Cogent Communications Holdings (NASDAQ:CCOI) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $119.80 million for the quarter, compared to analyst estimates of $120.23 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, equities research analysts forecast that Cogent Communications Holdings, Inc. will post $0.47 EPS for the current year.

Cogent Communications Holdings Profile

Cogent Communications Holdings, Inc is a facilities-based provider of Internet access and Internet Protocol (IP), communications services. The Company’s network is specifically designed and optimized to transmit data using IP. The Company delivers its services primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe and in Japan.

Institutional Ownership by Quarter for Cogent Communications Holdings (NASDAQ:CCOI)

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