Redmond Asset Management LLC Sells 1,504 Shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Redmond Asset Management LLC cut its holdings in shares of Cogent Communications Holdings, Inc. (NASDAQ:CCOI) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 127,276 shares of the technology company’s stock after selling 1,504 shares during the period. Cogent Communications accounts for 2.4% of Redmond Asset Management LLC’s portfolio, making the stock its 4th biggest position. Redmond Asset Management LLC’s holdings in Cogent Communications were worth $9,809,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CCOI. Itau Unibanco Holding S.A. acquired a new position in shares of Cogent Communications in the 3rd quarter valued at $30,000. Blue Trust Inc. increased its position in shares of 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 period. Quest Partners LLC acquired a new position in shares of Cogent Communications in the 3rd quarter valued at $46,000. KBC Group NV increased its position in shares of 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 period. Finally, SteelPeak Wealth LLC acquired a new position in shares of Cogent Communications in the 3rd quarter valued at $204,000. 92.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Cogent Communications

In other news, VP Henry W. Kilmer sold 4,800 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $75.61, for a total transaction of $362,928.00. Following the sale, the vice president now directly owns 33,800 shares of the company’s stock, valued at $2,555,618. This represents a 12.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 sale, the executive now directly 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 valued at $1,057,910 in the last ninety days. 11.40% of the stock is currently owned by corporate insiders.

Cogent Communications Price Performance

Shares of CCOI opened at $79.93 on Friday. The business’s 50-day moving average is $76.50 and its two-hundred day moving average is $76.79. The company has a debt-to-equity ratio of 5.87, a quick ratio of 2.03 and a current ratio of 2.03. 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 market capitalization of $3.92 billion, a P/E ratio of 102.47 and a beta of 0.40.

About Cogent Communications

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.