Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,196 shares of the technology company’s stock after purchasing an additional 212 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cogent Communications were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CCOI. Ipswich Investment Management Co. Inc. raised its stake in shares of Cogent Communications by 0.5% during the third quarter. Ipswich Investment Management Co. Inc. now owns 41,079 shares of the technology company’s stock valued at $3,119,000 after acquiring an additional 185 shares in the last quarter. Blue Trust Inc. grew its holdings in Cogent Communications by 53.8% in the fourth quarter. Blue Trust Inc. now owns 623 shares of the technology company’s stock worth $47,000 after purchasing an additional 218 shares during the last quarter. Capstone Triton Financial Group LLC grew its holdings in Cogent Communications by 3.1% in the third quarter. Capstone Triton Financial Group LLC now owns 10,401 shares of the technology company’s stock worth $790,000 after purchasing an additional 313 shares during the last quarter. KBC Group NV grew its holdings in shares of Cogent Communications by 28.7% during the third quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock valued at $111,000 after buying an additional 326 shares during the last quarter. Finally, Phillips Wealth Planners LLC grew its holdings in shares of Cogent Communications by 6.6% during the fourth quarter. Phillips Wealth Planners LLC now owns 5,645 shares of the technology company’s stock valued at $405,000 after buying an additional 349 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.

Insiders Place Their Bets

In other news, Director Blake Bath sold 6,220 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $83.69, for a total value of $520,551.80. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $836,900. This represents a 38.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thaddeus Gerard Weed sold 4,800 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $81.58, for a total transaction of $391,584.00. Following the completion of the sale, the chief financial officer now directly owns 88,500 shares of the company’s stock, valued at approximately $7,219,830. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,506 shares of company stock worth $1,647,631. Company insiders own 11.40% of the company’s stock.

Cogent Communications Trading Up 0.0 %

Shares of Cogent Communications stock opened at $81.92 on Thursday. The firm has a 50-day simple moving average of $75.78 and a two-hundred day simple moving average of $76.16. The company has a market cap of $4.02 billion, a P/E ratio of 105.03 and a beta of 0.40. Cogent Communications Holdings, Inc. has a fifty-two week low of $50.80 and a fifty-two week high of $86.76. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03.

Analysts Set New Price Targets

Separately, UBS Group started coverage on shares of Cogent Communications in a research report on Thursday, November 14th. They set a “buy” rating and a $102.00 target price for the company. 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. Based on data from MarketBeat, Cogent Communications presently has a consensus rating of “Hold” and a consensus target price of $80.25.

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.