Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 543.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,040 shares of the technology company’s stock after acquiring an additional 17,772 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cogent Communications were worth $1,622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Cogent Communications in the third quarter worth $30,000. Blue Trust Inc. increased its stake in shares of Cogent Communications by 204.5% in 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 period. Quest Partners LLC acquired a new stake in shares of Cogent Communications in the third quarter worth $46,000. KBC Group NV increased its stake in shares of Cogent Communications by 28.7% in the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock worth $111,000 after acquiring an additional 326 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Cogent Communications in the third quarter worth $204,000. Institutional investors and hedge funds own 92.45% of the company’s stock.

Cogent Communications Stock Performance

CCOI opened at $79.93 on Friday. 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 company has a market cap of $3.92 billion, a price-to-earnings ratio of 102.47 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 firm’s fifty day simple moving average is $76.50 and its two-hundred day simple moving average is $76.86.

Wall Street Analysts Forecast Growth

Separately, UBS Group began coverage on shares of Cogent Communications in a report on Thursday, November 14th. They set a “buy” rating and a $102.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $80.25.

Insider Buying and Selling at Cogent Communications

In other Cogent Communications news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following the transaction, the vice president now directly owns 33,800 shares of the company’s stock, valued at $2,555,618. This trade represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $81.42, for a total transaction of $156,326.40. Following the transaction, the executive now directly owns 51,462 shares in the company, valued at approximately $4,190,036.04. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,440 shares of company stock valued at $1,057,910 over the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Cogent Communications 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.