Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI – Get Rating) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,143 shares of the technology company’s stock after selling 3,248 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Cogent Communications worth $4,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of Cogent Communications by 50.8% during the 3rd quarter. Signaturefd LLC now owns 742 shares of the technology company’s stock worth $39,000 after buying an additional 250 shares during the last quarter. Victory Capital Management Inc. boosted its position in Cogent Communications by 2.7% during the 2nd quarter. Victory Capital Management Inc. now owns 9,657 shares of the technology company’s stock worth $587,000 after purchasing an additional 253 shares during the period. Van ECK Associates Corp boosted its position in Cogent Communications by 3.6% during the 2nd quarter. Van ECK Associates Corp now owns 7,333 shares of the technology company’s stock worth $445,000 after purchasing an additional 255 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Cogent Communications by 48.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 838 shares of the technology company’s stock worth $51,000 after purchasing an additional 272 shares during the period. Finally, CAPROCK Group Inc. boosted its position in Cogent Communications by 7.9% during the 3rd quarter. CAPROCK Group Inc. now owns 4,314 shares of the technology company’s stock worth $225,000 after purchasing an additional 314 shares during the period. 85.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cogent Communications

In related news, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $57.45, for a total transaction of $110,304.00. Following the sale, the executive now owns 34,742 shares in the company, valued at $1,995,927.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $57.36, for a total transaction of $275,328.00. Following the sale, the vice president now owns 28,800 shares in the company, valued at $1,651,968. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $57.45, for a total transaction of $110,304.00. Following the sale, the executive now owns 34,742 shares in the company, valued at approximately $1,995,927.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,640 shares of company stock valued at $845,453. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CCOI. Credit Suisse Group upped their price target on shares of Cogent Communications from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Moffett Nathanson upped their price target on shares of Cogent Communications to $93.00 in a research report on Thursday, November 17th. Royal Bank of Canada decreased their price objective on shares of Cogent Communications from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Tuesday, November 15th. The Goldman Sachs Group decreased their price objective on shares of Cogent Communications from $49.00 to $43.00 and set a “sell” rating for the company in a research report on Monday, November 7th. Finally, KeyCorp upped their price objective on shares of Cogent Communications from $64.00 to $71.00 in a research report on Tuesday, January 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.13.

Cogent Communications Stock Performance

Shares of CCOI stock opened at $64.08 on Friday. Cogent Communications Holdings, Inc. has a one year low of $46.75 and a one year high of $72.21. The company’s 50-day simple moving average is $64.50 and its 200-day simple moving average is $57.99. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 582.60, a PEG ratio of 1.97 and a beta of 0.44.

Cogent Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a dividend of $0.925 per share. This is a boost from Cogent Communications’s previous quarterly dividend of $0.92. The ex-dividend date is Thursday, March 9th. This represents a $3.70 annualized dividend and a dividend yield of 5.77%. Cogent Communications’s dividend payout ratio (DPR) is presently 3,327.58%.

Cogent Communications Company Profile

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Cogent Communications Holdings, Inc engages in the provision of Internet access and Internet Protocol (IP) communications solutions. It offers Internet access and data transport through its fiber optic, IP data-only network, ethernet transport, and colocation services. The company was founded by David Schaeffer in August 1999 and is headquartered in Washington, DC.