BankPlus Trust Department Invests $63,000 in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

BankPlus Trust Department acquired a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 818 shares of the technology company’s stock, valued at approximately $63,000.

Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Cogent Communications in the 3rd quarter valued at about $30,000. Blue Trust Inc. grew its stake in Cogent Communications by 204.5% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the technology company’s stock valued at $31,000 after acquiring an additional 272 shares during the last quarter. Quest Partners LLC acquired a new stake in Cogent Communications in the 3rd quarter valued at about $46,000. KBC Group NV grew its stake in Cogent Communications by 28.7% in the 3rd quarter. KBC Group NV now owns 1,463 shares of the technology company’s stock valued at $111,000 after acquiring an additional 326 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in Cogent Communications in the 3rd quarter valued at about $204,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cogent Communications

In other news, CFO Thaddeus Gerard Weed sold 4,800 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $81.58, for a total transaction of $391,584.00. Following the transaction, the chief financial officer now directly owns 88,500 shares in the company, valued at $7,219,830. This represents a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO James Bubeck sold 1,920 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $76.60, for a total transaction of $147,072.00. Following the transaction, the executive now owns 49,542 shares in the company, valued at approximately $3,794,917.20. The trade was a 3.73 % 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 worth $1,057,910 in the last three months. Company insiders own 11.40% of the company’s stock.

Cogent Communications Price Performance

Cogent Communications stock opened at $79.22 on Wednesday. Cogent Communications Holdings, Inc. has a 12-month low of $50.80 and a 12-month high of $86.76. The stock has a market capitalization of $3.88 billion, a P/E ratio of 101.56 and a beta of 0.40. The firm’s 50-day moving average is $76.66 and its two-hundred day moving average is $77.05. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Analyst Upgrades and Downgrades

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

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.